Mahindra Holidays to Expand Portfolio with 1,000 New Rooms by March 2026: MD & CEO Manoj Bhat

Mahindra Holidays to Expand Portfolio with 1,000 New Rooms by March 2026: MD & CEO Manoj Bhat

February 2: Mahindra Holidays & Resorts India Ltd (MHRIL) is set to add 1,000 rooms to its portfolio by March 2026, in response to surging demand, according to its Managing Director and CEO, Manoj Bhat.

The company, which operates the popular Club Mahindra brand with 5,698 rooms across 126 resorts, is aggressively expanding, planning to introduce 15 new destinations within the next five quarters. Bhat is optimistic that key measures announced in the Union Budget 2025-26, including the development of India’s top 50 tourist destinations and enhanced connectivity, will provide a significant boost to the sector.

“In the first nine months of this fiscal year, we’ve already added 371 rooms—surpassing our full-year additions from last year. Between January 2025 and March 2026, we plan to add another 1,000 rooms,” Bhat told PTI. This expansion represents a 17-18% increase in total room count.

Strategic Expansion and Future Growth

MHRIL has added nine new destinations in FY25 and is actively working on greenfield projects, including a 236-key resort in Ganapatipule, Maharashtra, and a 157-room property in Theog, Himachal Pradesh. Additionally, brownfield expansions are underway in Kandaghat (Himachal Pradesh) and Jaipur. The company has set an ambitious long-term goal of reaching 10,000 rooms by FY30.

Despite economic uncertainties, demand remains strong. “We expect robust demand to continue through Q4 and beyond,” Bhat noted, adding that occupancy in Q3 stood at 84.2%, exceeding last year’s figures. The growing trend of frequent, shorter vacations among premium travelers, coupled with improved infrastructure, has further fueled demand.

Budget 2025-26: A Boon for Tourism

Bhat welcomed the Union Budget’s continued emphasis on infrastructure, employment, and investment in tourism. “Collaboration with state governments to develop top tourist destinations, skilling initiatives, and improved connectivity will strengthen the sector and attract more investments,” he said.

Additionally, revised tax slabs under the new income tax regime are expected to boost disposable incomes, leading to increased consumer spending—another positive driver for the hospitality industry. “Higher purchasing power will sustain long-term growth for the sector,” Bhat added.

With a strong expansion roadmap and favorable policy support, Mahindra Holidays is poised for a dynamic phase of growth, reinforcing its leadership in India’s leisure hospitality market.

(PTI)

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