Home / Companies / Company Results /  Mahindra Holidays reports Q3 standalone revenue at 284.5 crore
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NEW DELHI: Indian hospitality firm Mahindra Holidays & Resorts India on Thursday reported a revenue of 284.5 crore for the December ended quarter (Q3), up from 245.9 crore a year ago. 

Net profit, however, fell 11.4% year-on-year to 36 crore. The company reported its highest ever resort income at 70 crore, up 57% year-on-year and 38% sequentially. The company, part of the Mahindra Group, provides holidays on a timeshare basis and has a cumulative member base of 2.62 lakh.

Mahindra Holidays has 79 resorts in India and abroad and its Finnish subsidiary, Holiday Club Resorts Oy (HCR) has 33 timeshare destinations and nine spa resorts across Finland, Sweden and Spain.

Kavinder Singh, managing director and CEO, said, the company delivered a strong performance last quarter, surpassing pre-pandemic levels with high level of resort occupancies and highest ever resort revenues, along with healthy member and room additions, despite Omicron induced uncertainty.

He added that operations at its European subsidiary, Holiday Club Resorts (HCR), were hit due to restrictions imposed by the Finnish government to curb the rapid spread of the Omicron wave. Restrictions on restaurant timings and waterpark operations also impacted performance spa resorts and timeshare sales. But despite the restrictions, HCR reduced its losses marginally on a year-on-year basis.

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