Mahindra Holidays and Resorts is all set to strengthen its footprint nationwide.

The company's top representative said that it will invest as many as Rs 250 crore on expansion and also establish resorts in the Sri Lankan market.

Company's Managing Director Ramesh Ramanathan said, "Within India we will be adding new resorts across the country. We will be adding around 500 units to our stock."

"The cessation of internal conflict in Sri Lanka has made the island nation attractive for us. The time is right and we are identifying locations in Sri Lanka while the headquarters will be in Colombo. We are looking at resorts near the beach and at other places," Mr. Ramesh added.

While the arrangement of Sri Lankan unit, JV or a wholly owned division has not decided up till now, Mr. Ramanathan added that one has to set up a company in Sri Lanka to buy land there.

He added that Mahindra Holidays making plans to endorse its flagship brand Club Mahindra in the Sri Lankan market.

In India, Mahindra Holidays is making plans to unveil the idea of fractional ownership of villas.

"Under fractional ownership, we will build and sell bungalow's measuring around 3,500 sq. ft to 8-12 persons. Each owner will be eligible for a specified period of stay at the villa that will be built near our resorts. We will get a regular revenue from maintenance of that property as well as capital appreciation at the time of selling the ownership," Mr. Ramanathan said.

He also said that fractional villas will be lavish and will be completely furnished and work on the project will start by the coming financial year (2011-12).

Mr. Ramanathan stated that the combined average subscription proceeds per person is approximately Rs 275,000 in 2010 as against Rs 250,000 made during 2009.

He also said that Mahindra Holidays provides Homestays in 47 different locations in 15 states.