Bengaluru, 24th Nov 2025: Mahindra Holidays & Resorts India Limited (MHRIL) today unveiled its vision to become India’s #1 leisure hospitality player. The key elements of this transformation are as below:

1.       Scaling the Core with Enhanced Member Experience:

·         Accelerated inventory addition to reach 10,000 keys by FY30

·         Launch of Keystone – a Privileged Access Program, designed with premium benefits like concierge services coupled with flexible and simple membership plans

·         Premiumization of resort portfolio

·         Refreshed identity to reflect the transformation: Rebranding of Club Mahindra as Club M

2.       Launch of “Mahindra Signature Resorts” for the luxury leisure market

·         The company is introducing Mahindra Signature Resorts, a luxury hospitality brand for the leisure market. These resorts will be designed for families who enjoy immersive experiences delivered with a sense of sophistication. The company targets scaling this brand to 2,000 keys by FY30.

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Highlights

• New resort at Mahabaleshwar in Maharashtra
• 4 existing resorts expanded- Kandaghat (HP), Dindi (AP), Patkot (UK), Jaipur (Rajasthan)
• 3 ongoing greenfield / brownfield projects progressing well
• Growth in resort revenue* continues, Rs 84 Cr (+8% YoY)
• Resort occupancy of 73.4% on expanded inventory base
• Inventory base of 5742 keys across 118 resorts
• Membership Sales Value at Rs. 134 Cr, Average Unit Realization (AUR) at Rs 9.3L (+85% YoY)
• Addition of 1432 new members; cumulative member base of 304k
• Cash Position at Rs. 1532 Cr as on 30^th Sep’25 (+5% YoY)
• Deferred Revenue stands at Rs. 5,747 Cr

Note: *- Includes all subsidiaries except HCRO 

MHRIL Standalone (Under Indian Accounting Standards)

Commenting on the performance, Manoj Bhat, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India Ltd., said, “We have delivered a strong performance despite being affected by unprecedented rain in Himachal & Uttarakhand clusters.

We accelerated inventory expansion to add a new resort & expanded 4 existing resorts. We also reviewed the voice of customers and exited 5 resorts during the quarter. Growth in resort revenue & membership upgrade continues as we deliver superlative customer experience across touchpoints. As part of our continued premiumization strategy, we adopted selective approach to member additions reflecting in higher average sales value.

Our European operation, HCRO, despite being impacted by multiple economic headwinds, has delivered a stable performance. Our overall performance has been robust, and consolidated profits are up by 47% YoY”

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Highlights

• Strong growth in resort revenue*, Rs 114 Cr (+10% YoY)
• New expansion project commenced at Puducherry. 5 ongoing greenfield / brownfield projects progressing well.
• Inventory base of 5794 keys across 126 resorts
• Resort occupancy of 85.4% on expanded inventory base
• Fourteen resorts awarded the TripAdvisor travelers choice award
• Membership Sales Value at Rs. 127 Cr, Average Unit Realization (AUR) at Rs 8.3L (+69% YoY)
• Rolled out digital engagement tool for assisted selling, delivering enhanced membership buying experience
• Cash Position at Rs. 1576 Cr as on 30^th Jun’25 (+10% YoY)
• Deferred Revenue stands at Rs. 5,755 Cr

Note: *- Includes all subsidiaries except HCRO 

MHRIL Standalone (Under Indian Accounting Standards)

Commenting on the performance, Manoj Bhat, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India Ltd., said, ” We have delivered a strong performance this quarter.

Our domestic business continues to do very well. Our standalone profit grew by 69% and our PAT margin expanded by 680 bps. Resort performance has been consistent with double-digit revenue growth and sustained occupancy of 85%+ on an expanded inventory base. We have commenced a new expansion project and are focused on achieving our aspiration of 10,000 rooms by FY30. Our strategy of selective member addition while pursuing premiumization reflects in continued growth in average unit sales realization.

Our European operation, HCRO, has improved its performance in a weak seasonal quarter showing resilience amidst multiple economic headwinds. Our consolidated profits were impacted by adverse currency movements largely due to the sharp movement in the Euro, Despite this, our consolidated profits up by 18% YoY”

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Asha brings over 28 years of rich experience in transforming customer-centric brands into premium offerings across multiple industries. Asha has been recognized for her strategic acumen, creative excellence, and ability to harness consumer insights. Her leadership will be instrumental in spearheading MHRIL’s brand transformation, guest experience innovation, and marketing strategy as the company doubles its resort footprint and elevates its offerings to cater to the evolving needs of leisure travellers.

Commenting on the development, Dr. Anish Shah, Group CEO & MD, Mahindra Group, said, “Asha’s expertise will be key to leveraging the potential of Mahindra Holidays, as we seek to transform and significantly grow the business. Her strength in aligning brand vision with customer experiences will be valuable for the business. This move is consistent with the Group’s philosophy to place strong leaders in areas of meaningful value creation.”

Manoj Bhat, MD & CEO, MHRIL, added, “We are delighted to welcome Asha to our leadership team. We have ambitious plans as we expand our resort footprint to 10,000 keys by 2030. Our focus is on premium offerings, and we wanted a seasoned leader with the expertise to align brand vision with exceptional experiences. Her appointment will accelerate building a business that meets the changing needs of leisure travellers”.

Expressing her enthusiasm for the role, Asha Kharga said, “I’m eager to contribute to the next chapter by focusing on the emotional, experiential, and cultural aspects that define our hospitality offerings. As the business grows, our greatest differentiator will not just be our presence, but how we make people feel when they stay with us. I look forward to working together with the incredible team at MHRIL.”

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Bengaluru, 24^th  April 2025: Mahindra Holidays & Resorts India Limited has joined hands with The Job Plus to roll out a transformative skill development and livelihood creation program across Mahindra communities and resorts nationwide. This initiative is strategically aligned to build a future-ready, inclusive workforce for the fast-growing hospitality sector.

The program will empower local youth with industry-relevant skills and provide direct employment in the hospitality sector. Aligned with the Mahindra Rise philosophy – ‘Rise for a More Equal World’, this program reflects the company’s commitment of driving positive change in the lives of our communities.

Furthermore, this partnership strategically supports MHRIL’s long-term vision of doubling its room capacity to 10,000 by FY30. The collaboration with The Job Plus will serve as a crucial enabler in creating employment opportunities and developing efficient and skilled workforce necessary to realize this significant expansion plan.

Ms. Tanvi Choksi, CHRO, Mahindra Holidays & Resorts India Ltd, added, “This initiative goes beyond employment — it is about inclusion, empowerment, and sustainable progress. By upskilling local talent, we are living our Rise philosophy: Only when we enable others to rise, will we rise. This partnership aligns with our vision of inclusive growth while ensuring service excellence at our resorts.”

The initiative will be implemented by The Job Plus in collaboration with the Tourism and Hospitality Skill Council under the Recruit, Train, and Deploy (RTD) model.

Mr. Natwar Nagar, Founder & CEO, The Job Plus, stated, “Mahindra Holidays’ strong focus on community-driven growth aligns with The Job Plus’ mission of industry-led skilling. This partnership will create structured career pathways in hospitality, ensuring local youth gain both skills and sustainable employment.”

Ms. Divya Krishan, Vice President, The Job Plus, added, “Partnering with Mahindra Holidays allows us to scale industry-driven skilling where it matters most—at the heart of local communities. This is how we drive sustainable employment.”

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