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Mahindra Holidays & Resorts India Ltd.

BSE: 533088 Sector: Services
NSE: MHRIL ISIN Code: INE998I01010
BSE LIVE 15:40 | 18 Aug 368.50 5.30
(1.46%)
OPEN

361.70

HIGH

374.80

LOW

353.10

NSE 15:57 | 18 Aug 367.30 2.75
(0.75%)
OPEN

365.25

HIGH

373.85

LOW

353.30

OPEN 361.70
PREVIOUS CLOSE 363.20
VOLUME 24000
52-Week high 469.00
52-Week low 257.37
P/E 37.00
Mkt Cap.(Rs cr) 4,910
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 361.70
CLOSE 363.20
VOLUME 24000
52-Week high 469.00
52-Week low 257.37
P/E 37.00
Mkt Cap.(Rs cr) 4,910
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Mahindra Holidays & Resorts India Ltd. (MHRIL) - Company History

Mahindra Holidays & Resorts India Ltd is one of the leading leisure hospitality providers in India, offering quality family holidays with a range of services designed to meet the diverse holiday needs and interests of a family. The company is a part of USD 6.7 billion Mahindra Group. The company's flagship brand Club Mahindra is India's No 1 holiday brand, and the largest vacation ownership brand outside the US. The company offers a range of solutions to their customers with the range of products and services, which includes Club Mahindra Holidays, Zest, Club Mahindra Fundays, Mahindra Homestays and clubmahindra.travel. Club Mahindra Holidays is engaged in the vacation ownership business. Zest, another product of the company in the vacations ownership space entitles their members short breaks for six nights each year in studio apartments for a period of 10 years. Club Mahindra Fundays is a corporate product-based on the point-based system. Mahindra Homestays provide the customers with choice of homes across different budget categories and property types. Club Mahindra Travel is a travel integration service for Club Mahindra Holidays' members to take care of their range of travel needs from accommodation to the deals on air tickets, complete holiday packages, replete with sightseeing tours and meals to documentation requirements. The company provides family holidays primarily through vacation ownership memberships. Their members can choose to stay and holiday at resorts in a range of holiday destinations for a pre-determined number of days in a year for a fixed number of years. Their resorts offer the use of furnished accommodation, such as apartments and cottages, and an experience through resort specific amenities and facilities, such as restaurants, ayurvedic spas, kids clubs and a variety of holiday activities. Mahindra Holidays & Resorts India Ltd was incorporated on September 20, 1996 as a private limited company with the name Mahindra Holidays & Resorts India Pvt Ltd. In February 1997, the company acquitted a land at Varca Village, Goa. Also, they launched their first individual product 'Club Mahindra Holidays Unlimited'. In January 29, 1998, the company was converted into public limited company and the name was changed to Mahindra Holidays & Resorts India Ltd. In the year 1998, MMJ Resorts and Holidays Pvt Ltd was amalgamated with the company with effect from April 1, 1998. In April 1998, the company opened their first resort at Munnar and in December 1999, they opened their second resort at Goa. In November 2000, the company acquired a land in Binsar and in April 2001, they opened a resort at Manali. In April 2001, Mahindra Sega Entertainment Corporation Ltd was amalgamated with the company with effect from April 1, 2001. In December 2002, the company acquired land in Coorg. In January 2003, they opened their first Club Mahindra Holiday World in Chennai. In March 2005, they entered into long-tern lease for an international resort in Pattaya, Thailand. Also, they opened Club Mahindra Kodagu Valley resort in Coorg, Karnataka. During the year 2006-07, the company strengthened their distribution network by opening a new office in Chandigarh and more Holiday Worlds and franchisees in newer locations. They acquired an existing resort in Kumbalgarh. M H R Hotel Management GmbH became the subsidiary of the company. In August 2006, the company executed an agreement with Ashtamudi Resorts Pvt Ltd wherein the entire share capital of Ashtamudi Resorts Pvt Ltd was purchased by the company. In October 2006, they launched 'Club Mahindra Fundays'. In December 2006, the company launched 'Zest', a product to cater to short break holiday needs. In January 2007, they launched clubmahindra.travel, their travel related services. During the year 2007-08, Ashtamudi Resorts Pvt Ltd was amalgamated with the company with effect from July 1, 2007. They acquired lands at Kadapakkam in Tamil Nadu, Kas in Maharashtra and Theog in Himachal Pradesh. Also, they signed an MoU with Government of West Bengal for promotion of tourism in that State. In April 2007, Mahindra Hotels and Residences India Limited was incorporated to carry out the business of hotels and restaurants, including ancillary activities such as interior decoration, recreational facilities and travel agency. In May 2007, the company opened Club Mahindra Backwater Retreat at Ashtamudi.In December 2007, the company opened their fist resort in Rajasthan namely 'Club Mahindra Fort Kumbalgarh'. In March 3, 2008, Heritage Bird (M) Sdn Bhd became a wholly owned subsidiary of the company. The principal activity of the company is purchasing, maintaining and leasing resorts. During the year 2008-09, the company launched a unique and innovative product 'Mahindra Homestays' in the UK. The company acquired 3 new properties, at Thekkady, Ooty and Naukuchiatal. Also they opened six Holiday Worlds in Jaipur, Mumbai, Pune, Delhi, Lucknow and Kolkata thereby expanding their sales network across the country. In May 2008, the company launched Zest @ Big Beach, Puduchery, first signature resort for Zest. In July 2008, they launched Mahindra Homestays. In September 2008, the company entered into a strategic alliance with Kerala Government for a period of 5 years to develop, promote and market homestays overseas and in India. In October 2008, they opened Thekkady resort for customers. During the year 2009-10, the network of the company's resorts was expanded with new locations such as Gangtok, Corbett and Mashobra. They expanded their existing properties at Coorg, Binsar and Ashtamudi and added a second smaller resort in Goa. The company entered into jungle tourism with MOUs signed for resorts in Gujarat and Madhya Pradesh. Also, they set up log huts in Binsar and floating cottages at Ashtamudi. During the year, the company successfully completed an IPO of 92.65 lakh equity shares, which was oversubscribed by more than 9 times. The shares were listed on the NSE and the BSE on 16th July, 2009. The company introduced innovative and interesting facilities for their customers, which includes the launch of Svaastha spa at Coorg, Puducherry and Kumbalgarh. They also introduced a 'Gourmet express' option in their dining programme in some of their resorts. In January 11, 2010, the company incorporated a subsidiary company, namely BAH Hotelanlagen AG to carry out the business of hotels, tourism and related activities. The company was awarded the status of a Business Superbrand in 2009 by the Brand Council of India and the flagship brand 'Club Mahindra Holidays' was selected as a Consumer Superbrand. Club Mahindra.travel was approved as an 'ACTIVE' Member of Travel Agents Association of India for the year 2009-10. As a part of their strategy for growth, Mahindra Holidays plans to enter new segments by offering innovative products aimed at the different needs of specific socio-economic and varied age segments of consumers. They also started working on revamping their Club Mahindra website using Web 2.0 technology. They have initiated the process of getting the ISO 27001 certification for the IT department and expects this to be completed during 2010-11.