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Club Mahindra to rebrand as ‘Club M’, enters leisure hospitality with Rs 1,000-crore investment
So far, the company has largely focused on the vacation ownership segment. With this expansion, MHRIL aims to diversify its business portfolio and tap into the fast-growing tourism market.
Mahindra Group’s hospitality arm, Mahindra Holidays & Resorts India Ltd (MHRIL), which operates the Club Mahindra brand, on Thursday announced its entry into the leisure hospitality business.
So far, the company has largely focused on the vacation ownership segment. With this expansion, MHRIL aims to diversify its business portfolio and tap into the fast-growing tourism market.
“Entry into the leisure hospitality business will add scale and diversity to the existing business portfolio and will help us attract fast-growing categories and customers in the overall tourism sector,” the company said in a stock exchange filing.
As part of the plan, Club Mahindra will invest Rs 1,000 crore towards capital expenditure for this business under Mahindra Hotels and Residences India Limited, a wholly owned subsidiary.
In a media statement, the company said the new venture will focus on expanding its hotel inventory and scaling up to 10,000 keys by FY2030. This will be enabled through premiumisation of the resort portfolio, a privileged access programme, and rebranding Club Mahindra as “Club M.”
Additionally, the company will introduce “Mahindra Signature Resorts”, targeting the leisure market with a plan to scale the brand to 2,000 keys by FY2030.
“For almost three decades, Mahindra Holidays has shaped how Indian families holiday, giving us a competitive edge. The demand for experiential holidays is rising swiftly with increasing affluence… Hence, we are embarking on our two-brand strategy to gain leadership in the leisure market,” said Manoj Bhat, MD & CEO, Mahindra Holidays.
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