Mahindra Holidays & Resorts India anticipates an overall occupancy rate of 85% for this fiscal year, according to Managing Director and CEO Manoj Bhat. This comes as the company saw 90% occupancy in the first quarter, thanks to an increase in available rooms.
While the second quarter is expected to be softer, Bhat predicts that occupancy will rise again in the third quarter due to seasonal trends.
“Q1 is a peak quarter. Q2 will dip, Q3 will climb again. So it’s a bit seasonal, but overall for the year, we expect around 85% kind of occupancy,” Bhat said.
Factors like heatwaves and general elections haven’t significantly affected Mahindra Holidays, as steady member demand keeps occupancy rates stable, ranging from 78-90%.
Bhat also noted that economic growth, more people spending on holidays, and better travel connectivity are driving the increase in family vacations and higher occupancy rates.
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