Mahindra Holidays to invest Rs. 500 crore to add 500 rooms this fiscal

Mahindra Holidays, which owns 42 Club Mahindra brand of timeshare resorts across the country and four overseas, will be spending Rs. 500 crore to add 500 rooms to its existing 2,700 capacity this fiscal, apart from looking at entering more foreign destinations.

'We have a capex plan of Rs. 500 crore this fiscal and have already spent around Rs. 170 crore. The funds will be used to add around 500 more units,' Mahindra Holidays chairman Arun Nanda told PTI.

Mahindra Holidays & Resorts is also studying more overseas destinations as part of the expansion plan. 'We are keen on Sri Lanka and Malaysia,' he said.

Nanda was speaking on the sidelines of the 40-year anniversary of RCI India (formerly Resort Condominiums International), which is the largest timeshare vacation exchange network in the world with over 4,500 affiliate resorts in 100 countries and 3.7 million members.


ET