| Mahindra Holidays and Resorts is planning to establish a sales footprint in the US. A presence in the US would supplement its existing sales footprints in the Middle East.
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| Globalisation of the business is a key feature of Mahindra Holiday’s approach. Ramesh Ramanathan, managing director of the company, said that it is ‘seriously looking’ at adding a couple of overseas locations to its list of holiday outlets.
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| The company, which has 14 holiday outlets in all, does have an overseas presence at the moment. However, that is in the form of inventory (few units in a location) abroad.
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| Ramanathan spoke to the media today at the launch of a new Club Mahindra Holiday World outlet in Chennai.
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| The new outlet would be run by the company’s franchisee T S Mahalingam and Sons, who happen to be the first ever franchisee for a Club Mahindra World outlet. Ramanathan said the timeshare industry is at present working on a way to get itself re-classified with the authorities in a way that would help it get the same benefits as hotels.
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| Once a re-classification happens, and hotels and timeshare companies compete on a level-playing field, the industry size would grow, felt Ramanathan.
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| The size of the timeshare industry in India is about Rs 400 crore, said Ramanathan. Mahindra has about 50 per cent to 55 per cent of the market, he added.
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| Mahindra, which charges a premium of 15 per cent in relation to its competitors, recorded a turnover of Rs 105 crore in 2004-05. The net profit for the same year was Rs 9 crore. |
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