Mahindra Holiday and Resorts, on 14 September, announced that it has signed an MoU (memorandum of understanding) with the government of Uttarakhand to build a resort in the state.
The company will build four to five-star resorts for which the company is planning to invest Rs 1,000 crore.
The flagship brand of Club Mahindra aims to become a strategic partner of the state and will support the Uttarakhand government by developing this new resort.
This is the company’s biggest investment ever made by the company.
With Club Mahindra already operating resorts in Jim Corbett, Kanatal, Mussoorie, and Binsar, the new investment by the company will double its footprint in the state.
Kavinder Singh, Managing Director & Chief Executive Officer, Mahindra Holidays & Resorts India Ltd, said, “We see a huge opportunity in Uttarakhand and our planned investment reflects not only our confidence in the state’s potential but also our commitment to contributing to its economic growth while at the same time creating memorable vacation experiences for our growing base of members.”
He added that this investment is part of the company’s plan of expansion from 5,000 keys to 10,000 keys by 2030. the company has a total of 143 resorts worldwide, with 82 located in different parts of India, and has over 2,86,000 member families.