Page 2 - Mahindra Holidays

Despite Covid-19, Club Mahindra to push for expansion with Rs 1K cr capex

Shorter-term membership packages may be considered

Mahindra, Sterling reinvent brands to counter competition from homestay

Two major holiday timeshare brands reposition themselves to counter growing competition from homestay, vacation rentals platforms

Mahindra Holidays Q2 net dips 3.5% to Rs 32 cr

Mahindra Holidays & Resorts India today reported a 3.5 per cent dip in standalone net profit to Rs 31.70 crore for the second quarter ended September 30, 2017. The company posted a net profit of Rs 32.86 crore for the corresponding period of the previous fiscal, Mahindra Holidays & Resorts India Ltd (MHRIL) said in a filing to BSE. Standalone total income of the company stood at Rs 251.98 crore for the quarter under consideration. It was Rs 261.45 crore for the same period a year ago. "We continue to strengthen our customer acquisition processes which has impacted our member additions in the short term," MHRIL MD & CEO Kavinder Singh said. Shares of MHRIL today closed at Rs 376.95 per scrip on BSE, up 0.23 per cent from previous close.

Mahindra Holidays plans US acquisition

Company is assessing properties in Orlando, Las Vegas as outbound travel rises

Mahindra Holidays buys 3.22% in HCR for 2.16 mn euros

Mahindra Holidays & Resorts India Ltd (MHRIL) has acquired an additional 3.22 per cent stake in Finland-based Holiday Club Resorts Oy (HCR) for 2.16 million euros (over Rs 14.5 crore). The Mahindra group company, through its step down subsidiary Covington S.A.R.L, has increased stake in Holiday Club Resorts Oy, Finland by acquiring an additional 3.22 per cent stake in the share capital of HCR and consequently, its stake in HCR has gone up to 95.16 per cent, MHRIL said in a filing to BSE. The 3.22 per cent stake has been acquired for a cash consideration of 2.16 million euros, it added. Holiday Club Resorts Oy is a leading vacation ownership company in Europe with 31 resorts in Finland, Sweden and Spain, MHRIL said. Shares of MHRIL today closed at Rs 448.15, up 1.33 per cent on BSE.

Mahindra Holidays buys 12% in Nreach

Nreach is a tech-enabled marketplace for experiences, activities and interesting things to do in and around city or in travel destinations

Mahindra Holidays to acquire 12% stake in Nreach

Company, however, did not disclose any financial detail of the stake acquisition

Mahindra Holidays to invest Rs 550 crore to add new rooms

The additional inventory will be added in the next 2-2.5 years, during this time the company is also open for looking partners to promote projects and for acquisitions

Mahindra Holidays' Finland arm divests stake in 3 subsidiaries

Consideration received from the sale was euro 400,000 each

Mahindra Holidays Finnish arm sells stake in 3 subsidiary companies

The company said consideration received from the sale of each of these firms is Euro 4,00,000