Mahindra Holidays & Resorts India Ltd. Announces Results For Q2 & H1 FY23

The highest ever Q2 member additions at 4397, a growth of 12 per cent YoY

Mahindra Holidays & Resorts India Ltd. reported its standalone and consolidated financials for the second quarter ending 30th September 2022. The highest ever Q2 member additions at 4397, a growth of 12 per cent YoY. The cumulative member base stands at 2,73,488, with 85 per cent fully paid.  Commenting on the performance, Kavinder Singh, Managing Director, and Chief Executive Officer, Mahindra Holidays & Resorts India Ltd. said, “Acceleration in room inventory and growth in member additions is reflected in the strong performance with highest ever Q2 Total Income, EBITDA and PBT. We are focused on providing high-quality immersive experiences for our member families, now at ~2,75,000, and are confident of our core value proposition of Vacation Ownership which allows us to monetize the full potential of our growing member base.”

Its highest ever Q2 Membership Sales Value at Rs. 194 crs, a growth of 93 per cent YoY, including large corporate deal of Rs. 24 Crs. Upgrades Value doubles (YoY) driven by higher in-resort conversions. Higher Average Unit Realization (AUR) at Rs. 3.9 lakhs vs Rs. 2.6 lakhs in Q2 FY22. Further commenting on the company’s performance, Singh added, “Despite the adverse effects of the Russia-Ukraine War which affected consumer sentiment and had an unprecedented inflationary impact leading to rise in input costs, Holiday Club Resorts (HCR) has delivered an impressive Q2 performance as is seen by the strong Revenue growth in Timeshare by 12% YoY and Spa Hotels by 16% YoY, along with delivery of operating and net profits.”