Mahindra Holidays & Resorts India temporarily suspends Finland operations

The move is in compliance with the advisories / directives issued by the Finnish Government arising out of COVID 19

Due to Covid-19 situation Mahindra Holidays & Resorts India announced that considering the situation arising due to the Coronavirus (COVID-19) and in compliance with the advisories / directives issued by the Finnish Government arising out of COVID 19, the operations in 3 SPA hotels of Holiday Club Resorts Oy (HCR), Finland, a Material Unlisted Subsidiary of the Company, will continue to remain suspended, i.e. 2 SPA Hotels until 19 May 2021 and 1 SPA Hotel until 07 June 2021.

Considering the emerging situation in the wake of the second wave of COVID-19 in India and thetravel / movement restrictions (inter district / interstate and intrastate) imposed by the respective State Government Authorities, the Company has, over the last two weeks, suspended the operations in most of the Resorts for the time being. The re-opening of the resorts will be guided by the easing of travel / movement restrictions by respective State Government Authorities.

As a result, the business of the Company will get impacted and it is difficult to quantify the expected impact at this point of time.

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