Financial Daily from THE HINDU group of publications
Thursday, Jun 10, 2004
Financial Daily from THE HINDU group of publications Thursday, Jun 10, 2004 |
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Corporate
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Announcements Mahindra Holidays eyeing global properties Our Bureau
Mr Arun Nanda, Chairman, Mahindra Holidays and Resorts India Ltd (right), with Mr Ramesh Ramanathan, the new Managing Director, at a news conference in Chennai on Tuesday. — Bijoy Ghosh
Chennai , June 9 MAHINDRA Holidays and Resorts India Ltd is taking its brand globally and identifying properties in Eastern Europe and Russia, according to Mr Arun Nanda, Chairman, Mahindra Holidays and Resorts India Ltd and Executive Director, Mahindra and Mahindra Ltd. The company also plans to acquire resort properties in the US, where it has registered a company called Mahindra Holidays USA, he said. In South East Asia, the company has a presence in Bangkok and is looking at establishing resorts in Singapore and Malaysia. These resorts will cater to international customers, he said. Mr Ramesh Ramanathan, who has taken over as Managing Director of the company, said that the company operates resorts in all the popular tourist destinations and has close to 25,000 timeshare members. He said that the timeshare industry grew at about 30 per cent in the last one year, and the market has now begun to accept the concept of timeshare holidays.
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