Page 2 - Mahindra Holidays

Mahindra Holidays & Resorts to invest Rs 800 cr to set up 3 resorts in TN

Mahindra Holidays & Resorts India Ltd on Thursday said it will invest Rs 800 crore in Tamil Nadu to build three greenfield resorts over the next five to six years. The company has signed an MOU with the Tamil Nadu government for the same, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a statement. It will directly generate employment opportunities for over 1,500 people, thereby contributing to the overall economy of the state, it added. "With this significant investment, MHRIL will double its footprint in Tamil Nadu, with Club Mahindra already operating resorts in Ooty and Kodaikanal," the company said. This would be the second-largest investment by MHRIL, following the Rs 1,000 crore investment in Uttarakhand last year. These investments are part of the company's expansion plans to increase room inventory from 5,000 to 10,000 by 2030, the statement said. Further, MHRIL said as part of its commitment to sustainability and aim to achieve carbon neutrality by 2040, all ...

Mahindra Holidays Q2FY24 result: Profit dips 48% to Rs 21 cr; income up 7%

As compared to Rs 0.89 crore in Q1FY24, the net profit was up 2307.86 per cent

Mahindra Holidays signs pact with U'khand govt to invest Rs 1,000 crore

Leisure hospitality company Mahindra Holidays & Resorts (MHRIL) on Thursday said it has inked an agreement with the Uttarakhand government to invest Rs 1,000 crore and build 4-5 large marquee resorts over the next few years in the state. This is the company's biggest investment in any state and part of its plans to expand to 10,000 keys from the current 5,000 keys by 2030, the company said in a statement. "Mahindra Holidays & Resorts (MHRIL), India's leading vacation ownership and leisure hospitality company under the flagship brand Club Mahindra, has signed an MOU today with the Government of Uttarakhand (UK) to invest Rs 1,000 crore and build 4-5 large marquee resorts over the next few years in Uttarakhand," it said. This investment will more than double the company's footprint in Uttarakhand, with Club Mahindra already operating resorts in Jim Corbett, Mussoorie, Kanatal and Binsar, according to the statement. "We see a huge opportunity in Uttarakhand, and our planned ...

Hotel stocks have more room for an upside; buy selectively: Analysts

The move to demerge the hotel business into a separate entity by ITC has brought back focus on hotel stocks, which have already seen a good run thus far in FY24.

Mahindra Holidays looks to take on titans with new resort venture

Plans to double room inventory to 10,000 units by 2030

Room rates, occupancy surpass pre-Covid levels for hotels, says report

Mahindra Holidays is aggressively expanding its inventory by acquiring properties and creating more resorts

IHCL, Kamat: Hotel stocks at 52-week high; check out the trading strategies

Shares of Kamat Hotels India are on the course to double this year, while Royal Orchid Hotels and Oriental Hotels have both gained 30 per cent each.

Mahindra Holidays Q4 profit rises on higher occupancy, membership

Shares of the company jumped 5.3% after the results, and closed 3.4% higher

Mahindra Resorts to invest Rs 1,800 cr, to add 2,100 rooms in 5-6 years

Mahindra Holidays & Resorts, the only listed entity in the membership-driven holiday segment, will add 2,100 more rooms in the next five to six years with an investment of around Rs 1,800 crore, according to a top company official. The company, better known as Club Mahindra, runs 119 properties, of which 74 are in the home market, 33 in Finland, Sweden and Spain being run under the banner of Holiday Club which it bought some years back. It also has 12 properties in the Middle East and South Asian markets. At present, the company has 4,900 keys inventory. The company has a customer base -- all club members and most of them having 25-year memberships -- of 2.8 lakh as of December 2022. The membership fee is the biggest revenue stream for the company, which is a debt-free entity of the Mahindra group and had a cash pile of Rs 1,090 crore at the end of December. "We'll be closing FY23 with 4,900 rooms across 119 properties, 60 per cent of them are owned properties and the rest ...

IHC, Mahindra Holidays: Time to check-in hotel stocks this holiday season?

Hotel stocks are seeing healthy accumulation with select stocks eyeing up to 35 per cent jump this travel season

Mahindra Holidays to invest Rs 1,500 crore on expansion in next 3 years

Mahindra Holidays & Resorts India Ltd plans to invest up to Rs 1,500 crore in the next three years in expansion, including room additions and resort acquisitions, according to company MD and CEO Kavinder Singh. The company is also considering launching a new upscale brand for managing resorts, through which it would also look to further grow its Club Mahindra memberships. "We are on a growth path. We have added 1,000-odd rooms in just about two and a half years," Singh told PTI. At present, Mahindra Holidays & Resorts India Ltd (MHRIL) has a total of about 4,700 rooms across 86 resorts -- 74 in India and 12 internationally, he added. When asked about future expansion, he said, "For us, we have to add resorts, that's the business we are in. We have a plan to easily add 1,200 to 1,500 rooms in about three years' time and that will happen at an estimated capital expenditure of about Rs 1,200 crore to Rs 1500 crore, which is sanctioned by the board". Among the major expansion ...

Mahindra Holidays looks to check in non-members with new hotel brand

To be positioned in the upper upscale band of the leisure segment, the hotel will compete with the likes of Pullman and Courtyard by Marriott

Mahindra Holidays Q2 profit down 31% on higher expenses, fall in revenue

Total expenses rose to 5.75 billion rupees from Rs 5.15 billion

Mahindra Holidays soars 9%, hits all-time high on improved business outlook

The stock hit a record high of Rs 313.50, surpassing its previous high of Rs 312.67

Real estate demand from industries is seeing a steep rise: Arun Nanda

After working for 50 years in various capacities in the Mahindra group, Nanda retired as the Chairman of Mahindra Lifespaces last week

Mahindra Holidays reports Q1 PAT at Rs 29.8 cr on account of higher revenue

Mahindra Holidays & Resorts India Ltd on Saturday reported a consolidated profit after tax of Rs 29.8 crore for the first quarter ended June 30, boosted by higher revenue. The company had posted a consolidated loss after tax of Rs 21.4 crore in the same quarter last fiscal, the company said in a regulatory filing. The consolidated revenue from operations during the quarter under review stood at Rs 604. 85 crore against Rs 370.87 crore in the year-ago period, it added. Focus on adding room inventory at a faster pace along with creating immersive experiences at its resorts helped the company deliver the highest ever resort revenues, higher occupancies and member spends, Mahindra Holidays & Resorts India Ltd (MHRIL) Managing Director and CEO Kavinder Singh said. Member additions have been robust with higher average unit realisation, he added. On a standalone basis member additions for the quarter stood at 3,807, with a cumulative member base of around 2.7 lakh. During the ...

Stocks to watch: TCS, Tata Motors, Mahindra Holidays, D-Mart, Adani Group

Stocks to watch today: IT behemoth TCS net profit grew 5.2 per cent year-on-year (YoY) to Rs 9,478 crore in Q1FY23; Tata Motors hiked prices across passenger vehicle range by 0.55 per cent.

Mahindra Holidays plans to add 1,000 rooms in next 2-3 yrs: Chairman

Mahindra Holidays & Resorts India Ltd (MHRIL) plans to add at least 1,000 rooms in the next two to three years, according to company Chairman Arun Nanda. In his address to shareholders in the company's annual report for 2021-22, Nanda said the firm is looking at greenfield projects, expansion of existing facilities, acquisition and lease opportunities to drive a significant growth in room inventory in the next few years. "Your company is poised for a significant growth in room inventory. The plan is to add at least 1,000 rooms in the next 2-3 years," he wrote. Nanda further said, "The additions are planned through a combination of greenfield projects on a beach near Ganpatiphule in Maharashtra and work is in progress for developing in few other destinations; expansion projects at its resorts in Kandaghat (Himachal Pradesh) and Puducherry." MHRIL had also recently won a bid for public-private partnership (PPP) project in Himachal Pradesh (Janjehli, Mandi district) and the work on .

Mahindra group: M&M, Mahindra Holidays may jump up to 25%, charts show

The Mahindra Group stocks, barring Tech Mahindra, have outperformed the benchmark indices considerably so far in 2022, and look fairly strong on the charts poised for more gains ahead.

Hotel stocks gain on hopes of demand rebound; Chalet Hotels surges 20%

Analysts anticipate a faster recovery in the demand environment and are hopeful that consumption will reach normalised pre-Covid levels in H1FY23