Mahindra Holidays and · tone and specificity signals across the available quarters.
Language signals
I think as we think about going into the future while Q2 obviously is the weakest quarter for the industry as we approach H2 I think we expect two or three things to happen. One is the 400 keys renovated keys will come back into the system.
Our balance sheet remains strong. Deferred revenue stands at ₹5,825 crores and the cash balance stands at ₹1,420 crores. This provides us significant financial leverage to fund our ongoing transformation and expansion roadmap.
It is going through a bad phase in terms of the demand cycle and we have mentioned before that we are conducting a strategic review and that's in progress as we speak.
We are targeting a utilization metric broadly right... we are moving from probably just thinking about it in terms of members to as guests whether it is member or non-member.
I think F27 is the time to do a strategic review of the business and assess what are the long-term potential partnerships or others which we can think of.
Only probably 25 to 30% will be owned. The balance will come from capital light models whether leads or other structures.