Mahindra Holidays calls off purchase of 5-star Lonavala resort
Mahindra Holidays and Resorts has called off the purchase of a 5-star resort located in the hill town of Lonavala over uncertainty in the business environment for hotels post the Covid 19 outbreak, according to people aware of the matter.
The Anand Mahindra group company which runs hotels and resorts under the Club Mahindra brand was in advanced discussions for the purchase of the resort that is operated by Novotel and owned by the Imagicaaworld group.
“The resort gets substantial bookings from visitors to the Imagicaaworld amusement park that is situated near it. In the current scenario with lockdowns in force it is difficult to predict when such public entertainment destinations will return to doing normal business”, one person aware of the development said.