According to news reports, Mahindra Holidays and Resorts India Ltd (MHRIL) is planning to expand its business by tapping the Indian diaspora in countries such as the UAE and the UK and in Africa, according to company officials. “Sri Lanka is a clear candidate. And as market evolves, we would evaluate having a bigger presence in Malaysia and the rest of Thailand…and if we find tens and thousands of people going to Europe, we will certainly evaluate it,” Arun Nanda, Chairman, MHRIL, said, as per a report by Zahra Khan and P R Sanjai in Mint.
As far as India is concerned, the “entire East is an opportunity and that is the first thing we are looking at, and the hill stations in Bengal are another opportunity,” said Nanda. He plans to add 1,000 units in the next two years.
“A unit in our case is a mix of a one-bedroom, a two-bedroom and a studio,” he said. The rupee’s depreciation is only helping its cause, according to Rajiv Sawhney, Managing Director and CEO, Mahindra Holidays. “The UAE response has been great. Suddenly, what I was selling to you for USD 10,000 now costs USD 8,000,” he said.