Page 3 - Mahindra Holidays

Mahindra Holidays & Resorts to add over 300 rooms by March

Mahindra Holidays & Resorts, which operates under the flagship Club Mahindra brand of membership-only resorts, plans to add over 300 rooms by March to take the overall inventory to 4,500 keys, a top company official has said. The Mahindra group firm had reported the highest quarterly profit of Rs 40.6 crore in the three months to September 2021 amid the pandemic that has hit the hospitality and tourism industry badly. It operates 78 properties offering 4,233 keys as of now and has been clocking about 80 per cent occupancy in the third quarter and hopes to better it going ahead provided there is no third wave and the resultant mobility curbs. "We started this fiscal with 4,197 rooms and we are on course to close the year with an inventory of 4,500 rooms. We are adding a little over 300 rooms to our existing properties at Assonora in Goa and Ganapatiphule in Maharashtra," Kavinder Singh, managing director and chief executive of Mahindra Holidays, told PTI. Refusing to give an exact .

Mahindra Holidays & Resorts to add over 300 rooms by March

Mahindra Holidays & Resorts, which operates under the flagship Club Mahindra brand of membership-only resorts, plans to add over 300 rooms by March to take the overall inventory to 4,500 keys, a top company official has said. The Mahindra group firm had reported the highest quarterly profit of Rs 40.6 crore in the three months to September 2021 amid the pandemic that has hit the hospitality and tourism industry badly. It operates 78 properties offering 4,197 keys and has been clocking about 80 per cent occupancy in the third quarter and hopes to better it going ahead provided there is no third wave and the resultant mobility curbs. "We started this fiscal with 4,197 rooms and we are on course to close the year with an inventory of 4,500 rooms. We are adding a little over 300 rooms to our existing properties at Assonora in Goa and Ganapatiphule in Maharashtra," Kavinder Singh, managing director and chief executive of Mahindra Holidays, told PTI. Refusing to give an exact investment

Riding on revenge travel, Mahindra Holidays to add 1,500 rooms in 3 years

The Mahindra Group hospitality arm plans to invest Rs 1,000-1,200 crore

BSE Consumer Discretionary index hits new high; Shalimar Paints surges 17%

Mahindra Holidays & Resorts, Lux Industries, Dish TV India and Borosil rallied more than 10 per cent on the BSE in intra-day trade

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

Mahindra Holidays scouts for acquisitions amid coronavirus pandemic

Occupancy at properties in driveable locations surges at 80-90% of pre-Covid levels

Mahindra Holidays & Resorts India reports Q1 net loss of Rs 32.37 cr

The company had posted a net profit of Rs 78.52 lakh for the corresponding period of the previous fiscal, MHRIL said in a filing to BSE

Despite Covid-19, Club Mahindra to push for expansion with Rs 1K cr capex

Shorter-term membership packages may be considered

Mahindra, Sterling reinvent brands to counter competition from homestay

Two major holiday timeshare brands reposition themselves to counter growing competition from homestay, vacation rentals platforms

Mahindra Holidays Q2 net dips 3.5% to Rs 32 cr

Mahindra Holidays & Resorts India today reported a 3.5 per cent dip in standalone net profit to Rs 31.70 crore for the second quarter ended September 30, 2017. The company posted a net profit of Rs 32.86 crore for the corresponding period of the previous fiscal, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a filing to BSE. Standalone total income of the company stood at Rs 251.98 crore for the quarter under consideration. It was Rs 261.45 crore for the same period a year ago. "We continue to strengthen our customer acquisition processes which has impacted our member additions in the short term," MHRIL MD & CEO Kavinder Singh said. Shares of MHRIL today closed at Rs 376.95 per scrip on BSE, up 0.23 per cent from previous close.

Mahindra Holidays plans US acquisition

Company is assessing properties in Orlando, Las Vegas as outbound travel rises

Mahindra Holidays buys 3.22% in HCR for 2.16 mn euros

Mahindra Holidays & Resorts India Ltd (MHRIL) has acquired an additional 3.22 per cent stake in Finland-based Holiday Club Resorts Oy (HCR) for 2.16 million euros (over Rs 14.5 crore). The Mahindra group company, through its step down subsidiary Covington S.A.R.L, has increased stake in Holiday Club Resorts Oy, Finland by acquiring an additional 3.22 per cent stake in the share capital of HCR and consequently, its stake in HCR has gone up to 95.16 per cent, MHRIL said in a filing to BSE. The 3.22 per cent stake has been acquired for a cash consideration of 2.16 million euros, it added. Holiday Club Resorts Oy is a leading vacation ownership company in Europe with 31 resorts in Finland, Sweden and Spain, MHRIL said. Shares of MHRIL today closed at Rs 448.15, up 1.33 per cent on BSE.

Mahindra Holidays buys 12% in Nreach

Nreach is a tech-enabled marketplace for experiences, activities and interesting things to do in and around city or in travel destinations

Mahindra Holidays to acquire 12% stake in Nreach

Company, however, did not disclose any financial detail of the stake acquisition

Mahindra Holidays to invest Rs 550 crore to add new rooms

The additional inventory will be added in the next 2-2.5 years, during this time the company is also open for looking partners to promote projects and for acquisitions

Mahindra Holidays' Finland arm divests stake in 3 subsidiaries

Consideration received from the sale was euro 400,000 each

Mahindra Holidays Finnish arm sells stake in 3 subsidiary companies

The company said consideration received from the sale of each of these firms is Euro 4,00,000