Mahindra Holidays posts strong growth, new member addition up 50%

Mahindra Holidays & Resorts India Limited reported a 21% increase in its revenue to Rs. 231 Crores for the first quarter, while profit after tax rose 23% to Rs 25 Crores.

Total number of new member additions increased 50% during the quarter compared to the same period last year.

Total number of members were 186,000.

“The efforts of the new team and the systems and processes put in place earlier, have begun yielding results,” said Arun Nanda, Chairman, Mahindra Holidays & Resorts. “This, along with our room inventory addition plan and the government’s thrust on tourism infrastructure, augurs well for the future”

EBITDA rose 23% to Rs 56 crores.

During the quarter, the Company opened its second property in Munnar with 51 rooms through a greenfield project. It now has 46 resorts in India and abroad.

“Additions to our property portfolio are on track,” said Kavinder Singh, Managing Director & Chief Executive Officer.

“Our referral and digital sales contribution is at 54% (of total sales) indicating growing ‘consumer pull’ for our proposition.