Plans to add 1,000 rooms over the next 4-5 years. COVID pressure on member additions in FY21. Cost control measures to counter COVID stress. Resort income exposed to occupancy risk. Best placed given timeshare nature of the business model. Strong expansion plans to strengthen the leadership position. Market leadership in VO business expected to strengthen. Expect benign member additions in FY21.
VO income accrual to be at Rs 375 cr in FY21. Flexi payment plan creates an additional revenue stream. Re-opened 20 resorts as on July 31. Occupancies to rise once travel curbs ease. Multiple annuity revenue streams from 2.58 lk+ member base. Net member addition in Q1FY21 in 1270. One-off overdue cancellation of 820 members this quarter.
Catch the full ET Now interview with Kavinder Singh, MD & CEO, Mahindra Holidays & Resorts India Ltd.
click here: https://www.youtube.com/watch?v=Ci8NM9k2Evc&feature=youtu.be
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