Aim is to double the room count to 10,000 in 7 years: Kavinder Singh, Mahindra Holidays

economictimes.indiatimes.com:

«Our member editions were very robust at 23% growth on YOY basis and parallelly we acquired a resort in Jaipur a 72 Key Resort which will expand further,» says Kavinder Singh, Mahindra Holidays.Let us understand things for the quarter gone by. I do not want to dwell too much into your bottom line because we understand that there is always this element of you have to keep on parking money because of the accounting policy you follow so I will not spend too much time and on that but let us first understand the big picture. This is boom time for the hospitality industry, are you enjoying the joyride? I think this is something that I wanted to share that we have a strategic objective which we are pursuing now from growing our base of about 5,000 as this quarter we touch 5,000 mark we want to take it to 10,000 over the next seven years that is the big picture so the joyride is on and we will definitely move towards a strategic objective of doubling our own count in about seven years.

Having said that even at a financial metrics level on standalone this quarter turned out to be the best ever quarter for us in terms of the income which grew by about 17% at about Rs 355 crores if you exclude the one-offs as well as the EBITDA which crossed Rs 100 crores mark which grew by about 19% and as well as the PBT which was up by 19%. Also our member editions were very robust at 23% growth on YOY basis and parallelly we acquired a resort in Jaipur a 72 Key Resort which will expand further and we also broke ground on a 236 room resort in Ganpati Phule and we have Rs 800 crores of capex already in play and we are moving towards of a strategic objective of doubling our room count.If I look at the revenue Rs 614 crore versus Rs 600 crore at a