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Mahindra Holidays & Resorts India Posts Q12023 Consolidated PAT at Rs 30 Crores

Mahindra Holidays & Resorts India Ltd. Has registered consolidated PAT at Rs. 30 crores, an improvement of Rs. 51 crores during Q1 of FY 2022-23. The company’s consolidated revenue grows 52% YoY and EBITDA grows 75% YoY.

Commenting on the performance, Kavinder Singh, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India Ltd. said, “Our focus on adding room inventory at a faster pace along with creating immersive experiences at our resorts has helped us deliver highest ever resort revenues, industry leading occupancies and higher member spends. Member additions have been robust with higher average unit realizations. We have delivered strong financial performance as reflected in the growth of Income & PAT. Our value proposition of Vacation Ownership is more relevant than ever before, with rising ARRs across leisure destinations.”

Commenting on European operations, he added, “Holiday Club Resorts (HCR) has delivered a significant improvement in Timeshare and Spa Hotels Revenues which is reflected in its operating results. This has been achieved despite unprecedented cost pressures due to high inflation. Summer holiday season started from mid-June onwards and domestic travel remains strong.”

As on June 30, 2022, MHRIL has 84 resorts across India & abroad and its subsidiary, Holiday Club Resorts Oy (HCR), Finland, a leading vacation ownership company in Europe has 33 Timeshare Destinations with 9 Spa Resorts across Finland, Sweden and Spain.

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