Mahindra Holidays & Resorts India expects to see over 75 percent occupancy in Q2, Kavinder Singh, MD and CEO, told CNBC-TV18.

The stock is up almost 40 percent in the last three months owing to the easing of restrictions, revenge travelling, and the board recommending the 1:2 bonus issue.

“We will close this quarter (Q2 of FY22) with upwards of 75 percent occupancies and that's a good situation to be in. The best part is that we have built the capability to ramp up and ramp down our operations because of the second wave (of COVID-19),” Singh said.

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On cost structure, he said, “We have also learnt to be able to deal with our cost structure in a manner that we are able to bring it down if needed ever, and when we are ramping up also, we are not increasing our costs in line with the ramp-up in operation, so costs are definitely in control and we are looking forward to the next few months, as the festive season is just about to begin, so we are looking at good times ahead.”

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On business, he said, “We are indeed seeing revenge travel; July is not a month when people usually holiday, but we are seeing trends where people are holidaying in July and in August. We are seeing a house full in almost all of our resorts, particularly during the weekends in August. By the way, we closed July with about 72 percent occupancy and 90 percent of our resorts are operational, that is 64 out of 70. So, we are definitely looking at some good times ahead.”

For the entire management interview, watch the video

(Edited by : Dipika Ghosh)