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Mahindra Holidays & Resorts has decided to enter the leisure hospitality business through a new luxury brand, Mahindra Signature Resorts, to be operated by its wholly owned subsidiary, Mahindra Hotels and Residences India Limited. The move, approved by the board this week, aims to diversify the company's portfolio beyond vacation ownership. The firm plans to add around 2,000 keys under the new brand by FY30 and has earmarked nearly INR 1,000 crore as initial investment. Alongside this, the company has revealed a broader growth plan, including rebranding Club Mahindra to Club M and expanding total inventory to 10,000 keys by FY30.
Mahindra Holidays & Resorts has announced its decision to expand into the leisure hospitality space through a new luxury brand called Mahindra Signature Resorts, which will be operated by its subsidiary, Mahindra Hotels and Residences India Limited. The company finalised the move after its board approved the proposal earlier this week. Advertisement
The organisation, known mainly for its presence in the vacation ownership segment, aims to build a stronger position in the leisure market through this new brand. The plan includes scaling Mahindra Signature Resorts to about 2,000 keys by FY30. The company noted that entering the leisure hospitality segment will help broaden its portfolio and connect with fast-growing customer groups within the tourism sector.
Mahindra Holidays expects to invest close to INR 1,000 crore as initial capex for setting up the new business under its subsidiary. The company communicated through a regulatory filing that the board had cleared the proposal to begin operating in the leisure hospitality category through this dedicated vertical.
MD and CEO Manoj Bhat said the growing demand for experiential holidays is being driven by rising affluence and a wider understanding of family travel that includes shared experiences. He explained that the two-brand strategy is intended to strengthen the company's position in the leisure segment.
As part of its broader transformation plan, the company has also introduced the rebranding of Club Mahindra as Club M. The strategy includes accelerating inventory expansion to reach 10,000 keys by FY30, building on its existing presence and supporting its vision to become India's leading leisure hospitality player.
Source PTI
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