Country Club India plans to expand overseas footprint

Leisure and infrastructure firm Country Club India, which has 55 properties across 10 nations, is planning to strengthen presence overseas and is targeting 1 million membership in a decade.
"In 2005, we had 10 properties. Now we have 55 properties across India and overseas. We were into major expansion drive since the last few years. We embarked on this expansion in order to accommodate 1-1.5 million members, a milestone which we hope to achieve in next 7-10 years," Country Club Vice- Chairman and CEO Y Siddharth Reddy told PTI here.
The Country Club India has over 3 lakh members. About 75 per cent of the company's business is through membership and 25 per cent through non-members.

The company, he said, is done with expansion in the country, and it will add properties only if there are right opportunities.
However, it is planning to expand to 25 cities overseas in Saudi Arabia, the US and South East Asia.
"We have properties in 10 countries as of now. Going forward we are planning to foray into 25 cities in Saudi Arabia, the US and South East Asia in 5-7 years," Reddy added.

To begin with, the company will first set up its sales office and after evaluating the response it will look into scouting for properties, he said.

This financial year the company is also planning to reduce its consolidated debt, which currently stands at Rs 400 crore, he said.
"Our main focus this year would be be to bring down our debt. However, we have to discuss with our banks to decide the amount," he added.
He further said, the company is looking forward to FY15, which is expected to be positive after the general elections.
"The previous financial year was ruled by negative sentiment for the entire hospitality industry. This year we are hoping a stable government will bring in positive atmosphere, which will be great for the sector," Reddy said.

The company's total manpower stood at 7,000, including the India and the overseas properties. Country Club's revenue for FY13 stood at Rs 475 crore.