Cygnett Hotels and Resorts has announced plans to strengthen its market presence with a pan-India expansion strategy, reported ETHospitalityWorld.com.
Over the next two years, Cygnett aims to strategically expand its presence, targeting regions with high tourism potential and robust business activity across the country.
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Cygnett has a portfolio of 45 hotels and claims to be on track to have 33 operational hotels by the end of 2024.
Cygnett Hotels & Resorts founder Sarbendra Sarkar said: “I am thrilled to witness our brand’s phenomenal growth in 2023, setting the stage for an even more ambitious 2024.
“Our expansion strategy not only underscores our commitment to establishing a pan-India presence but also highlights our unwavering dedication to redefining hospitality standards.”
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The company intends to enhance its footprint in North-Eastern India, with the Cygnett Inn brand launching in Tawang by March 2025.
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By GlobalDataThis hotel will be located at an elevation of 3,048m in the Himalayan region of Arunachal Pradesh, alongside the Taj brand.
The economic hubs of Assam, such as Guwahati, Barpeta, Nagaon, and Galahad, will also see new Cygnett hotels.
The company is also diversifying its offerings with the launch of its new wellness and lifestyle brand, Ayurvyaas.
An 80-room hotel under this brand will open in Chail, Himachal Pradesh, within this year.
Ayurvyaas aims to provide a wellness experience, combining ancient Vedic wisdom with modern practices for holistic rejuvenation.
Additionally, the budget hotel brand Cozzet by Cygnett is expanding to several key locations.
These include at Jamshedpur, Mahad, Puri, SIDCUL Haridwar, Chittorgarh, and Phalodi (Rajasthan).
Cygnett is also broadening its hotel portfolio in cities such as Jaipur and Ayodhya, with new properties.
Internationally, the company is targeting markets with Indian diaspora populations, such as Nepal, Sri Lanka, Vietnam, the UAE, and East Africa, reported BWHotelier.
Cygnett noted that in 2023, it saw a 15.6% increase in average daily rate (ADR) and a 15.1% growth in revenue per available room (RevPAR).
The occupancy rates were around 80% in most hotels and 90% of guests were repeat visitors, the company added.
In April 2023, the company signed its first property in Sonipat, Haryana, India.
