Mahindra Holidays & Resorts India Ltd (MHRIL), part of diversified business conglomerate Mahindra Group, has acquired a 80 room resort 'The Destination' near Shimla for an undisclosed sum.
The company has acquired the resort by purchasing 100% equity share capital of Holiday on Hills Resorts Pvt Ltd, the company said on Friday.
Commenting on the development, MHRIL MD Rajiv Sawhney said: "We are committed to adding to the choice of destinations and expanding the variety of holidays that our members can experience. In the last 10 months our focus on expansion has resulted in an addition of over 780 rooms."
With this acquisition MHRIL the group now has 43 resorts under its umbrella.
While Club Mahindra is the flagship brand of Mahindra Holidays & Resorts India ,the other brands offered by the company are – Zest Breaks, Club Mahindra Fundays and Mahindra.Travel.
Shares of MHRIL today closed at Rs. 280.10 per scrip on BSE, down 0.48% from previous close.