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Mahindra Holidays & Resorts, through its Finnish subsidiary Holiday Club Resorts Oy, has fully acquired Keskin in Kiinteistö Oy Salla Star (KKOSS) for INR 2.35 crore in an all-cash deal. The acquisition transitions Mahindra from a lessee to the outright owner of a holiday property in Märkäjärvi, Salla, Finland—previously leased since 2012 under a share purchase arrangement. KKOSS is now a wholly owned unit, with no related-party involvement. This move strengthens Mahindra's footprint in Europe's leisure market, particularly in the scenic Lapland region. The company now gains full control to upgrade or integrate the resort into its broader Holiday Club portfolio across Finland.
Mahindra Holidays & Resorts India, through its Finnish arm Holiday Club Resorts Oy (HCR), has completed the full acquisition of Keskin-in Kiinteist Oy Salla Star (KKOSS), a local real estate firm that owns a holiday property in Mäkijärvi, Salla. The deal was executed via an all-cash transaction of INR 2.35 crore. With this, Mahindra has transitioned from being a lessee to the outright owner of the property, which had been under a lease arrangement with HCR since 2012, backed by a pre-agreed share purchase mechanism. Advertisement
KKOSS, now a wholly owned subsidiary of HCR, had recorded a turnover of INR 5.13 lakh and a net worth of INR 2.37 lakh in the financial year ending December 2024. The property forms part of Mahindra Holidays' resort operations under the Holiday Club brand in Finland. According to company disclosures, the acquisition does not involve any related-party transactions and aligns with the company's previously agreed terms, making it a planned and internally structured takeover.
This acquisition adds to Mahindra Holidays' growing footprint in the European leisure space. The company had first entered Finland in 2014 by picking up a minority stake in Holiday Club Resorts, which was later converted to a majority and then full ownership by mid-2015. Since then, it has expanded its offerings across multiple Finnish destinations, with a focus on building long-term vacation assets for its members.
The Mäkijärvi property, located in the remote and scenic Lapland region of Finland, offers seasonal holiday experiences that align well with the Holiday Club brand. With the lease now converted into ownership, Mahindra will have more flexibility to upgrade, redevelop, or integrate the property more deeply within its European portfolio.
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