Financial Daily from THE HINDU group of publications
Wednesday, Mar 13, 2002
Financial Daily from THE HINDU group of publications Wednesday, Mar 13, 2002 |
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Corporate
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New Projects Mahindra Holidays expands into North Our Bureau
CHENNAI, March 12 MAHINDRA Holidays & Resorts India Ltd has added four northern hill destinations to its network. The company, which is primarily into time-share, has a presence in Goa and Munnar and has now expanded to the hill stations of Manali, Mussoorie, Binsar and Kufri in the North. Mr Ravi Santhanam, CEO, Mahindra Holidays, said that Club Mahindra's latest additions included Timber Trail in Manali, Snowview Resorts at Kufri, Hilltop Resort at Avalon, Mussoorie, and the expansion at Valley Resort at Binsar in Almora. With these new acquisitions, the company's room base will go up to 260 rooms, he said. The company has entered into long lease agreements for some apartments. He, however, did not divulge details about investments into these projects or about the lease agreements. Mr Santhanam said that the company achieved a revenue growth of 70 per cent over the previous year while the member base had grown by over 40 per cent over the previous year.
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