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Mahindra Holidays shares rose 3% after the company announced a major expansion into the leisure hospitality space.
The Board has approved a new ₹1,000 crore business vertical that will sit under an arm called Mahindra Hotels and Residences India.
The deets: until now, Mahindra Holidays has largely focused on vacation ownership through Club Mahindra. The new plan marks a shift toward full-fledged leisure hospitality as the company looks to broaden its portfolio and tap into faster-growing segments of India’s booming tourism market.
The company aims to scale the new luxury brand to 2,000 keys by FY30, while the overall inventory target has been set at 10,000 keys.
The bigger play: the company is kicking off a wider transformation. Club Mahindra is getting rebranded to Club M, a new concierge-led program called Keystone is being launched, and existing resorts will be upgraded and premiumised.
With rising incomes and demand for experiential travel climbing, Mahindra Holidays believes a two-brand strategy will give it a strong edge in the leisure segment.
