Mahindra Holidays and Resorts India Ltd, part of the Mahindra and Mahindra Group, is in the process of identifying several locations in neighbouring countries to set up resorts.
"We have recently bought a few units in Thailand and are identifying locations in neighbouring countries to set up our resorts. We hope to finalise this in the next 4-6 months," Mahindra Holidays managing director Ramesh Ramanathan said.
As part of the group's blue chip initiatives, the company is aiming at taking its 'Club Mahindra' brand globally by acquiring properties. It is also looking at expanding its resort footprint in all neighbouring countries.
He said that Mahindra's vertically integrated business model was very different from others. "Unlike others, we are responsible for the requirements of customers, from the beginning till the end."
Ramanathan said the company was growing by 70-80 per cent evey year.
Presently, it has a membership of about 40,000. Mahindra Holidays, through the All India Resorts Development Association, is working with the government for time share
classication.
"It is a major issue now in this business. Once its comes into effect, the industry will see major growth. Hotels will also get into time share business and holiday firms will look at developing hotels," he added.
The time share business size in the country is estimated at between Rs 400 crore and Rs.500 crore and the industry was growing at the rate of 20-25 per cent.
Mahindra resorts abroad
