Mahindra Holidays expanding overseas

Mahindra Holidays and Resorts India Ltd, a 100 per cent subsidiary of the Mahindra Group, is sailing abroad to form joint ventures with local players in some countries in Africa and West Asia , its Managing Director, Mr Ramesh Ramanathan, said.

The company, having about 1,500 NRIs on its member rolls, is now set to woo non-NRIs abroad by setting up resorts in South Africa, Mauritius, Egypt, Morocco, Cyprus and Turkey, besides Europe.

“We are opening up our business to these countries by setting up companies there, some of which could be joint ventures. We bought a property in Austria this year,” he told Business Line. “No Indian company, in this sector, has gone to these countries before,” he said.

Mahindra Holidays was the fastest growing company in the resorts sector in Asia, Africa and Europe, he claimed. It has competition from about a dozen players in the country, including majors such as Sterling and Royal Goan Beach Club.

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