Mumbai, Nov. 20 -- The new vertical will be operated through its wholly owned subsidiary, Mahindra Hotels and Residences India, under the brand name Mahindra Signature Resorts.

The company currently operates in the vacation ownership segment. Its entry into leisure hospitality business is expected to add scale and diversity to its existing business portfolio while enabling it to tap into fast growing categories and customers in the overall tourism sector.

The company plans to invest about Rs 1,000 crore in setting up the new business through its subsidiary. Mahindra Signature Resorts will focus on families seeking immersive and sophisticated travel experiences, with a target of scaling the brand to 2,000 keys by FY30.

Additionally, the...