Mahindra Holidays plans Rs 1,000 crore capital expenditure

Mahindra Holidays and Resorts India Ltd has announced a capital expenditure of Rs 800-1,000 crore, which will be spent in the next three-four years to develop new resorts.

It is adding 18,000 members every year, has Rs 572 crore cash in its books and its occupancy level stands between 80 and 85 per cent.

In an interview with DNA, its MD and CEO Kavinder Singh has said the company can improve margins through new member additions and resort income.

He said: “We have developed a plan of 1,400-1,500 rooms, which will be required to suffice the demand of our members, which is going up. The work has started in many locations like Goa, where a 200-room resort is being developed. This is going to be the fourth resort in Goa.”

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