I would recommend a light brown stain for mahogany, which will enhance the mahogany look in the pores. An oil based stain will help seal the wood like a thinned down varnish. You can get on a stained floor almost immediately and it doesn't smell too bad. I use little skates made from carpet to put underfoot. Buffing after the stain has dried over-night with #2 steel wool will make the first coat of finish come out smoother. Two coats of poly would be all you need, then. Low humidity will help the floor cure better, but the warmth from the stove will have more of an effect. Fans to move the air around help a lot, also. Stain will make machine marks show, so it's more for someone who knows how to sand, but the results are worth it. It need not be dark, too. Golden brown thinned with two or three parts natural is all it needs, since mahogany has such large pores. It will look great "natural", too, but will be more yellow.
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