Just after my sisters marriage we were having some cash in our account & coincidentally we were also planning to buy LCD TV.
Then came THE SUNDAY & I saw advertisement in local newspaper, where Club Mahindra also shared about FREE Sony Bravia TV.
Their annual report shows that occupancy was at 77% & if we adjust even 2% that was utilsed by nonmembers so member occupancy is at 75%.
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But at the time of booking you can choose any room so I am having Studio but can book 2 BR & pay 50% less ASF.
(You people will be feeling pity about me & I am feeling same for people who have bought 1 BR & 2 BR) This fees is not fixed – it increase every year according to urban inflation numbers.
Third, when there is big gap in available inventory & some competition from nonmembers; few people will definitely be disappointed because they will not get what they desire.
Club Mahindra expect that people should plan there holidays 6 months in advance – I think I can do it but it’s not possible for people who are in jobs.
They proudly say that there membership is increased by 26% Compounded annualized growth rate but their Inventory was not able to keep pace & just grown by 22%. (You can check the below table – Club Mahindra Members Vs Inventory) Second, Club Mahindra gives resorts on rental to nonmembers, even in the peak season. Their annual report show earning of Rs 15 Cr from rental they have received from nonmembers.
If I assume Rs 4000 per night room rent – it turns to 3% of the total available inventory.
In last financial year there were 4000 membership cancellation – I assume that as they don’t have proper cancellation policy, these are the people who have not paid Annual Subscription Fees (ASF) & there membership was automatically cancelled.
Club Mahindra Holidays can advertise “Happy Families” but truth is 44% of members are not availing their holidays. First & biggest reason is there is a gap between number of members & inventory (number of units) available in the resorts.
You won’t believe we spent very little time in resort – we were more interested in visiting Nanital & Ranikhet.
Even we spent one night in some other hotel because we thought rather than going back to resort to sleep let’s directly go from Nanital to Ranikhet.
Each day one takes 4-5 financial decisions and if not more, there is a fair chance that few of them will prove to be wrong. (If decision was wrong – cost Rs 1500-2000 if tickets bought in Royale or Rs 500-1000 if bought tickets for Executive class and additional loss of Rs 200-300 if buying Pepsi or eatables – even choosing large or small Pepsi is a financial decision – impact Rs 100 on budget) Let me also share that one decision which is blunder for one person can be a small mistake for other & for third person it may also prove to be right – again financial planner’s favorite line “it depends on person to person”.