Club Mahindra Holidays, a company that sells time-share holiday packages, has finalised the plans for an international expansion. It is setting up sales and marketing offices in New Jersey and Washington and is close to buying out room inventory on the east coast for expanding the Club Mahindra portfolio in the US. The company plans to buy out gold crown resorts (premium four-star plus category resorts). Club Mahindra has also sketched an incursion into the international tourism trail in Asia. It is close to attaining a 200-room resort at Phuket in Thailand and is exploring similar options in Sri Lanka and Malaysia.
Club Mahindra will continue to build its base in India and Asia and simultaneously make inroads into the US markets. Over the next 3-4 years it plans to gain a major market share in the US and then commit funds and invest in a resort hotel. The dynamics of the US market are different. The resorts there are big with a minimum room base of 300. So Club Mahindra plans to corner a market share and gain a strong foothold before committing funds or investing in properties there. Also they are the first and the only non-US based Time-share Company setting up base in the US.
According to research carried out by Chub Mahindra in the US, there are more than 200,000 Indian millionaires in the US Around 80% of them holiday once in a year and they all come to India once in every three years for a holiday. The research states that the purchasing power of Indians is four times higher than that of an average American. As on date, Club Mahindra has 40,000 members and the turnover for financial year March 05 was Rs 105 crore.
|
|
|
|
|
| Posted : 8/25/2005 |
|
| Browse through Product Directory of JimTrade.com which offers an exhaustive data on Products of Services where as Suppliers Directory of JimTrade.com provides a detailed information on Suppliers of Services |
|
|
|
