Mahindra Holidays’ New Strategy Of Targeting The Rich Is Paying Off
Mahindra Holidays and Resorts India Ltd. has a new strategy that brought in more than Rs 200 crore in cash flow in just a year: targeting members with deeper pockets.
The travel and lifestyle company plans to increase its focus on digital and referral channels to target members with high spending capacities, Kavinder Singh, managing director and chief executive officer of Mahindra Holidays, told BloombergQuint in an interview.
People who are able to pay higher down payment are pre-disposed to enjoying the lifestyle we promote in terms of spending family holidays at our resorts, and also spending their time on activities and the food and beverage offerings in our resorts.Kavinder Singh, MD & CEO, Mahindra Holidays
The company’s cash flow, which was merely Rs 15 crore two to three years ago, now stands at Rs 400 crore, he said.
The debt-free company will use this cash flow to add nearly 600 rooms across various properties in the next two years, Singh said, adding that Mahindra Holidays plans to increase footprints across domestic and international markets.
Watch the full conversation here: