Club Mahindra reports revenue of Rs 284.5 crore in Q3

Sales ascended 13.14% to Rs 553.44 crore in the third quarter as against Rs 489.15 crore during the previous quarter ended December 2020.

Indian hospitality company, Club Mahindra reported a revenue of Rs 284.5 crore for the quarter that ended on December 31, 2021, against Rs 245.9 crore a year ago.

The company reported its highest-ever resort income at Rs 70 crore, up 57% year-on-year and 38% subsequently. Nevertheless, net profit dropped 11.4% year-on-year to Rs 36 crore.

Advertisement

Sales ascended 13.14% to Rs 553.44 crore in the third quarter as against Rs 489.15 crore during the previous quarter ended December 2020.
The company, part of the Mahindra Group, provides holidays on a timeshare basis and has a cumulative member base of 2.62 lakh.

According to Kavinder Singh, managing director and CEO, “the company sustained a strong performance last quarter overcoming pandemic obstacles levels with a high level of resort occupancies and highest ever resort revenues, along with healthy member and room additions. The operations at its European subsidiary, Holiday Club Resorts (HCR), were crashed due to restrictions imposed by the Finnish government to curb the rapid spread of the Omicron wave.”

Mahindra Holiday & Resorts India Limited (MHRIL) is a part of the Leisure and Hospitality sector of the Mahindra Group. Vacation ownership is its key offering and “Club Mahindra” is its flagship brand. MHRIL offers family holidays primarily through vacation ownership memberships for over 25 in 10 years.

Club Mahindra operates over 100+ resorts in India and overseas destinations and is affiliated with over 4,500 RCI resorts. It is the world’s largest vacation ownership brand outside the United States (US).