Mahindra Holidays and Resorts India reported a 30% jump in second-quarter profit on Friday, buoyed by a surge in leisure travel spending across India and steady demand for family holidays in Europe.
As post-pandemic travel momentum continues, India’s hospitality sector has seen record occupancies and a strong rebound in resort stays, with affluent travellers increasingly opting for experiential holidays and short domestic getaways. Travel bookings have also surged during extended weekends and festive breaks, benefiting major players such as Club Mahindra, Thomas Cook, and Indian Hotels.
The company, which operates premium resorts under the Club Mahindra brand, posted a consolidated net profit of ₹17.85 crore for the quarter ended September 30, compared with ₹13.8 a year earlier. Revenue rose 7% to ₹717 crore, supported by steady growth in both domestic and overseas markets.
Domestic revenue increased 2.3%, while its European business—comprising resorts in Finland, Sweden, and Spain—expanded 9.4%, driven by higher occupancies and room rates.
Mahindra Holidays added 1,432 new members during the quarter, taking its total membership base to 3,04,000. The company also reported an 85% rise in average unit realisation, reflecting improved pricing and higher spending by members.
India’s domestic tourism market has been on a steady upswing, with industry data showing strong demand across resort destinations such as Goa, Himachal Pradesh, and Kerala, as well as rising interest in international travel. Mahindra Holidays said it remains optimistic about sustained growth in both its Indian and European operations amid this broader travel boom.
