Mahindra Holidays & Resorts is set to foray into the leisure hospitality business through a subsidiary under the brand name 'Mahindra Signature Resorts' after its board approved the proposal, the company said on Thursday.

The company, which currently operates in the vacation ownership segment, is introducing Mahindra Signature Resorts, a luxury hospitality brand for the leisure market.

The company targets scaling this brand to 2,000 keys by FY30.

Entry into leisure hospitality business will add scale and diversity to the existing business portfolio and will help us attract fast growing categories and customers in the overall tourism sector, Mahindra Holidays & Resorts stated.

The company expects to make an initial investment of approximately Rs 1,000 crore towards capex and setting up

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