Mahindra Holidays and Resorts India is scaling its newly announced leisure hotel and resort strategy, with its first owned property under Mahindra Signature Resorts slated to open in Theog, Himachal Pradesh by FY27. The company plans to open 2–3 more owned resorts beginning the next financial year, strengthening its asset footprint in drive-to leisure markets.
Manoj Bhat, MD & CEO, Mahindra Holidays, said rising incomes and improving connectivity are driving weekend, short-break and experience-led travel demand, with the company’s survey indicating 30 holiday days/year among Indian travellers. Bhat highlighted that 80% of guests seek immersive, local experiences, and India’s branded leisure market penetration stands at 14%, with segment size projected to hit USD4 billion by FY30.
The company will make an initial INR1,000 crore investment via new wholly owned subsidiary Mahindra Hotels and Residences India, targeting 2,000 resort keys under the Signature luxury brand by FY30. Mahindra confirmed it has INR1,500 crore capex headroom for 3–4 years, funded through internal accruals, with most expansion driven by a capital-light partnership model (30% Mahindra stake, 70% partner-supported).
The group is also executing a portfolio upgrade, including inventory exits and full-scale resort renovations across Munnar, Poovar, Kumbalgarh and Jaisalmer, alongside the rebranding of Club Mahindra to Club M, with a plan to scale the network toward 10,000 total keys by FY30.
Source: Business Standard
