We will soon cross our target of adding 5,500 rooms by Fy25, says Kavinder Singh, MD, Mahinda Holidays. | Tech US News

[ad_1]

Mahindra Holidays & Resorts India is all set to expand its inventory and has exceeded the target of adding 5,500 rooms by FY25, Mahindra Holidays MD and CEO Kavinder Singh told CNBC-TV18.

“We can definitely surpass the 5,500 mark, and we’ve already hit 4,715. We added about 116 odd rooms, and we added three resorts so we’re talking about growing our inventory. I am very optimistic, which will obviously lead to an increase in membership, which will lead to a lot of revenue for the resort and occupancy based on expanding inventory,” Singh said.

Mahindra Holidays & Resorts India on Wednesday announced its quarterly earnings report for July-September. The company reported an all-time high of 4,397 members, a 12 percent increase over the same period a year ago. Net profit fell 30% to Rs 40.8 crore for the quarter ended September 2021 due to rising costs and lower sales in its European businesses.

Singh added that the second quarter was a weak quarter seasonally but still the company performed well in terms of room additions and revenue.

Image

“Best of all, our margins are at around 28 per cent EBITDA margin and 14 per cent PBT margin and these are around 500 basis points for EBITDA and around 280 basis points for PBT over pre-pandemic levels. to pre-pandemic levels,” he said.

The company saw 82.5 percent occupancy in October, making the second quarter the best quarter in terms of occupancy, he added.

“The best part for us has been – October ended with around 82.50 per cent occupancy and we are definitely trying to get closer to 84-85 per cent occupancy,” he said.

Along with this, the company is also planning to expand its business. In September, Singh told CNBC-TV18 that the company was planning to acquire properties to increase its inventory.

Shares of Mahindra Holidays & Resorts are trading at Rs 275, up 0.2 percent from the previous close on the BSE.

[ad_2]

Source link

Please disable your adblocker or whitelist this site!