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Mahindra Holidays inks MoU with Tamil Nadu government to build 3 Greenfield resorts

19 Jan 2024 Evaluate

Mahindra Holidays & Resorts India (MHRIL) has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to invest Rs 800 crore in Tamil Nadu to build three Greenfield resorts over the next five to six years. It will directly generate employment opportunities for over 1,500 people, thereby contributing to the overall economy of the state.

With this significant investment, MHRIL will double its footprint in Tamil Nadu, with Club Mahindra already operating resorts in Ooty and Kodaikanal. This would be the second-largest investment by MHRIL, following the Rs 1,000 crore investment in Uttarakhand last year. These investments are part of the company's expansion plans to increase room inventory from 5,000 to 10,000 by 2030.

Mahindra Holidays & Resorts India (MHRIL), a part of Leisure and Hospitality sector of the Mahindra Group, offers quality family holidays primarily through vacation ownership memberships and brings to the industry values such as reliability, trust and customer satisfaction.

Peers
Company Name CMP
The Indian Hotels Co 715.40
ITC Hotels 152.25
Mahindra Holi.&Resor 192.45
EIH 283.70
Chalet Hotels 846.15
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