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Mahindra Holidays, the leisure hospitality market leader from the Mahindra & Mahindra group will invest Rs 500 crore in setting up 8-9 new resorts in the country over the next 18-20 months.
The company, which today opened a new resort near the Kanha National Park in Madhya Pradesh, will fund the expansion programme through internal accruals. It will invest an average of Rs 60-75 lakh per key for the 500 rooms in intends to build.
The Club Mahindra Kanha is a green field project and is spread across 15 acres of land. It has 50 rooms including 32 studio rooms and 18 one bedroom apartments. This latest addition takes the company's resort count to 37 in India. It also has five resorts overseas.
