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Mahindra Holidays & Resorts India Ltd (MHRIL) is making a major push into the broader leisure hospitality market with a ₹1,000-crore investment to set up a new wholly owned subsidiary — Mahindra Hotels and Residences India — and launch a premium brand, Mahindra Signature Resorts.
According to a stock exchange filing, the new vertical will focus on luxury leisure properties, with a target of 2,000 keys by FY30. The company has not yet clarified whether the expansion will come through greenfield developments or acquisitions.
Managing Director & CEO Manoj Bhat said rising consumer demand for experiential travel and Mahindra Holidays’ three-decade legacy in family vacations position it strongly for this next phase. Alongside the new venture, the company will continue to scale its core timeshare business — rebranding Club Mahindra to Club M — and aims to grow its total inventory to 10,000 keys by FY30.
As of September 2024, MHRIL operates 118 resorts in India and abroad, while its Finnish subsidiary HCR runs 33 properties across Europe. The company also plans to premiumise its existing portfolio and launch a new membership tier, Keystone.
With an ambition to become India’s leading leisure hospitality provider, MHRIL is targeting 3× growth in keys and revenue, and 4× growth in net profit this decade. In Q2 FY25, the company reported a 47% rise in consolidated net profit to ₹16.9 crore, with total income up 6.1% to ₹749.5 crore.
