Magic Holidays, which owns and operates 33 timeshare properties across India, Thailand, USA, New Zealand and Singapore, aims to touch the 100 property milestone by 2018. According to Hitesh Kshatriya, COO, Panoramic Group of Companies, the parent company of Magic Holidays, the company has always delivered what they have promised in terms of expansion, and are confident of this new goal as well. “Last year, we said we will add 15-18 properties, and we added 18 by the end of 2012. From 10 hotels, which we started with, we have come to 33 in the last two years. We are clear in our strategy – we don’t have big properties, but we do have the biggest network of hotels in timeshare with owned properties,” he stated.
The Group will take a step towards this goal with 15 new properties in India this year. In addition, the group plans to acquire properties in new markets such as Dubai, Malaysia and South Africa. Kshatriya added that the Dubai acquisition process should be complete shortly. He further added that Southern Europe is on the company’s radar as, owing to the economical downturn, property rates have lowered in these countries.
“We launched 13 properties across India in last one year. In terms of business growth, we have grown more than 500 per cent in terms of additions in membership and revenue generated. We are focusing on business segment this year. Our focus markets will be tier II and III cities, whose travellers have disposable income, but don’t know the ways and means of holidaying in an affordable manner. We are looking to tap these markets through channel partners,” he added.
The company is also looking at further leveraging its tie up with RCI to promote more of their properties. “We currently have three properties tied up with RCI and are looking to offer them another 10. We want to make every possible destination available for our clients. For them, new destinations and locations are most important. If we have 25 properties, our customers have a new place to visit for the next 25 years. However, if we are not present at a certain location that they are keen on, our tie up with RCI will help,” he said.
Owing to success in countries such as Malaysia and Singapore, Magic Holidays is also hoping to start their own offices in these destinations to service their customers more effectively. “We have hit a roadblock with government restrictions and are awaiting the required permissions,” Kshatriya concluded.
