The travel & tourism sector remains one of the hardest hit due to the ongoing pandemic. With the holiday season upon us - are people traveling once again despite COVID-19, Kavinder Singh, MD and CEO of Mahindra Holidays discusses this and the outlook for the second half of the year.

“Occupancies are improving month-on-month as the unlock measures have been announced by the government. We have seen a positive correlation with the occupancies going on month-on-month. We are optimistic to get to almost 80 percent occupancy level in December,” Singh said to CNBC-TV18.

The company has seen a significant uptick in revenues in the December quarter.

“If I were to look at the spends around food & beverage, we are almost reaching the pre-pandemic levels. So people are spending the money at the resort when they are coming in,” Singh said.

On capital expenditure, he said, “We have plans to grow our room units by at least 1,500-1,800 units over the 4-5 years by putting in about Rs 1,000-1,200 crore of capital expenditure. Our capital expenditure plans are going on as planned.”

The member base of the company continues to grow while Singh expects the leisure business to do well going ahead.

Watch the view for the full interview.

(Edited by : Ankit Gohel)

First Published:Dec 9, 2020 12:07 PM IST