Mahindra Holidays to invest up to rs 4,500 cr

New Delhi: Mahindra Holidays & Resorts India Ltd (MHRIL) plans to invest up to Rs 4,500 crore in the next three to four years to double its room capacity to 10,000, according to company Managing Director and CEO, Kavinder Singh.

The company is actively pursuing partnerships with state governments besides setting up new resorts, brownfield expansion and acquisitions to achieve the target to increase room count from 5,000 to 10,000 by FY30. “We have all the strategies on the table to get from 5,000 to 10,000 rooms. We are well on our way there,” Singh told. At the moment, about Rs 835 crore of investment is underway for five greenfield, brownfield, and acquisition projects, comprising about 690 keys. “We are very confident this investment will get scaled to at least Rs 2,000 crore in the next year and very quickly we will scale it up to Rs 4,000-4,500 crore in three to four years time because you need to deliver 5,000 keys by 2030,” he said. On the strategy for expansion, Singh said apart from greenfield, brownfield and acquisitions, the company is also emphasising on public-private partnership (PPP). “We have already tied up with the Uttarakhand government and identified two pieces of land to do Rs 1,000 crore investment.