Mahindra Holidays & Resorts India Limited (MHRIL) announced a significant strategic shift, confirming its entry into the distinct leisure hospitality segment. This move is supported by an initial investment of approximately ₹1,000 crore towards capital expenditure and the establishment of the new business vertical.
The expansion will be managed through a newly formed, wholly owned subsidiary, MAHINDRA HOTELS AND RESIDENCES INDIA LIMITED. This subsidiary will launch the Mahindra Signature Resorts brand, focusing on non-vacation ownership stays. The company has set a target to scale this new brand to 2,000 keys by Fiscal Year 2030 (FY30), leveraging a mix of potential greenfield developments and brownfield acquisitions.
The core vacation ownership business, historically operating under the Club Mahindra brand, will simultaneously undergo a comprehensive transformation to enhance its leadership position. As part of this evolution, Club Mahindra will be rebranded as Club M. The company’s core focus remains on significantly scaling its existing portfolio, aiming to increase its total inventory to 10,000 keys by FY30. This inventory expansion will build upon its current network of 118 resorts across India and international markets, including those managed by its European subsidiary, Holiday Club Resorts Oy.
Furthermore, MHRIL is introducing Keystone, a premium tier designed to offer enhanced privileges and experiential benefits to members, reinforcing the company’s commitment to delivering high-value family holidays.
Commenting on the announcement, Mr. Manoj Bhat, Managing Director & CEO, Mahindra Holidays & Resorts India Limited, stated, “For nearly three decades, Mahindra Holidays has played an instrumental role in shaping the family holiday experience in India. Recognizing the swift rise in demand for experiential holidays driven by increasing affluence, our two-brand strategy is designed to effectively tap into fast-growing customer segments and secure a leadership position across the wider leisure market.”
This strategic initiative is underpinned by a vision for substantial corporate growth over the current decade, aiming for a tripling of both total keys and revenue, coupled with a goal to quadruple net profit, following a strong financial performance in the previous quarter.
