Mahindra Holidays says it's adding new properties to keep pace with travel boom
Speaking to CNBC-TV18 after the December-ended quarter earnings report, Kavinder Singh, MD and CEO of Mahindra Holidays said that the company is adding new properties to keep pace with travel boom. This is good news for members, as it means more options for their vacations.
Mahindra Holidays and Resorts India, one of the leading vacation ownership companies, reported mixed earnings for the December-ended quarter with good performance in the domestic business while losses continue for its European arm.
Speaking to CNBC-TV18 after the earnings report, Kavinder Singh, MD and CEO of Mahindra Holidays said that the company is adding new properties to keep pace with the travel boom. This is good news for members, as it means more options for their vacations.
He said, “We are adding inventory at a brisk pace, and that is helping us to boost our member additions.”
The company's aim is to cross the member addition level to over 5,000 per quarter. Singh also noted that Q4 is seasonally good for member additions. This is due to the holiday season, which typically sees more people taking vacations. However, it's worth noting that the company is already comfortably above pre-pandemic levels for member additions.
“We are well on track to move towards the 5,000 levels in terms of member additions. Of course, internally we make targets. Normally, we do not provide guidance, but the trajectory is positive,” said Singh.
While the news for the Indian business is positive, Singh also touched on the Europe business. The third-quarter is a seasonally weak quarter for the Europe business, and high inflation and geopolitical challenges in Europe impacted the business further.
However, there is some good news for the Europe business as well. Singh mentioned that it is on its way to a turnaround, and he expects strong results from the Europe business in Q4.
Overall, Mahindra Holidays and Resorts India is in a good position for growth, both in India and Europe. With a focus on adding more inventory and a strong Q4 expected, the company is poised for continued success in the vacation ownership industry.
The stock was up about 2.94 percent in last five trading sessions and 3.68 percent in a month.
For more details, watch the accompanying video
(Edited by : Abhishek Jha)
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