Mahindra Resorts & Holidays, part of the Mahindra Group, has purchased an 18.8% stake in Holiday Club Resorts Oy to increase its European presence in the vacation ownership industry.
Mahindra Resorts & Holidays, the holiday resort subsidiary of conglomerate Mahindra Group, has invested €13m ($17.7m) in Finland-based holiday destination owner Holiday Club Resorts, the Economic Times reported yesterday.
The money will buy an initial 18.8% stake, which newspaper Times of India stated will increase into a full ownership by 2016 through a €73m ($99.4m) investment.
A full acquisition of Holiday Club would enable Mahindra Resorts & Holidays to become the biggest holiday resort and home company outside the United States, and…
