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Mahindra Holidays &; Resorts India Ltd is set to enter the luxury leisure hospitality segment with Mahindra Signature Resorts, targeting affluent families and experience-focused stays. The first 150-room property will open in Theog, Himachal Pradesh, with further resorts planned across north and south India and Maharashtra. The company has allocated INR 1,000 crore for this expansion and aims to increase its total room count to 12,000 by FY30. The new brand will operate on an open model, distinguishing it from the existing vacation ownership business, while MHRIL seeks a three-fold growth in rooms and revenue over the decade.
Mahindra Holidays & Resorts India Ltd (MHRIL) is preparing to launch its first property under the new luxury leisure brand, Mahindra Signature Resorts, in the later part of the next fiscal year, according to the company's Managing Director and CEO, Manoj Bhat. The company recently announced its entry into the luxury leisure hospitality segment with an earmarked investment of INR 1,000 crore. Advertisement
The first resort is planned at Theog in Himachal Pradesh, with subsequent projects in priority regions across north and south India, as well as Maharashtra. The initial property will feature around 150 rooms and will focus entirely on leisure locations rather than urban centers. Construction of the resort is already underway.
This new initiative is part of MHRIL's broader strategy to expand its presence in the conventional hotel segment, which currently represents 92% of the market. Vacation ownership, the company's existing business, covers only 8% of the leisure market. Through Mahindra Signature Resorts, the company aims to cater to affluent families by offering experience-driven stays with properties designed around local culture and narratives.
Unlike MHRIL's rebranded vacation ownership business, Club M, which operates on a membership model, Mahindra Signature Resorts will follow an open model accessible to all guests. The company intends to add 2,000 keys under this brand by FY30, increasing its total room count from the previously announced 10,000 to 12,000 across new and existing properties.
While MHRIL has not shared specific revenue projections for this venture, Bhat highlighted that the company aims to achieve a three-fold increase in total rooms and revenue and a four-fold growth in profit after tax for its India business between FY20 and FY30. He also noted that travel trends show more than half of travelers book within a week of departure, emphasizing the need for flexible, experience-oriented offerings.
Source PTI
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