What is your outlook on the Indian hospitality and leisure travel sector? What are the key emerging macro trends you are witnessing among consumers in the post-pandemic world?
The hospitality industry, especially leisure travel, in India has witnessed fast recovery post the Omicron wave. Occupancies and average room rate (ARR) have surpassed pre-pandemic levels, and we are seeing some of the positive travel behaviours that emerged during the pandemic become the new normal. We at Mahindra Holidays & Resorts Ltd. closed FY22 on a high note and expect to continue our momentum into FY23. With high room rentals and inflationary pressures, people see value in vacation ownership. That is because they don't have to pay for the room while booking their vacation.
Based on current trends, we expect to maintain our high occupancy rates going forward. New emerging trends such as workcations and staycations have gained popularity. Travellers are partaking in immersive experiences such as dining beneath the stars, camping, local cuisines and BBQ to get away from the routine. They also believe in environmentally friendly and responsible travel, as well as the use of energy-efficient resources.
In FY22 Mahindra Holidays’ resort income (standalone) witnessed strong YoY growth of 84.6 per cent despite the challenging environment and virus waves. Which factors are responsible for your stellar outperformance?
This story is from the June 06, 2022 edition of Dalal Street Investment Journal.
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This story is from the June 06, 2022 edition of Dalal Street Investment Journal.
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