Mahindra Holidays Projects 85% Occupancy Amid Rising Shorter Getaways

Mahindra Holidays & Resorts India Ltd anticipates an 85% occupancy rate for the current fiscal year, driven by steady member demand and a trend towards shorter holidays. Despite seasonal fluctuations, the company plans to add 5,000 rooms by FY30, investing Rs 4,500 crore to double capacity.

Mahindra Holidays & Resorts India Ltd is forecasting an 85% occupancy rate for the fiscal year, propelled by consistent member demand and a rising trend of shorter holidays, as revealed by Managing Director and CEO Manoj Bhat.

The company, which saw a 90% occupancy rate in Q1, expects a softer performance in Q2 but remains optimistic about overall annual occupancy. Bhat highlighted that factors like the extreme summer heatwave and general elections have had minimal impact on their operation.

Looking ahead, Mahindra Holidays plans to expand its resort offerings, with an aim to add 5,000 rooms by FY30 and an investment of Rs 4,500 crore to increase its total room capacity to 10,000. The company's diverse resort portfolio has been key in attracting consistent membership.

(With inputs from agencies.)