Marking 10 Years of Success, Cygnett Hotels and Resorts unveils ambitious expansion strategy for 2024

New Delhi, February2024: Cygnett Hotels and Resorts which aspires to be the most preferred and biggest brand in the midscale hospitality segment in India is now 10 years strong. As it enters a decade of operations, Cygnett is embarking on an ambitious expansion plan for 2024, leveraging the success and substantial growth achieved in 2023, particularly in the North and North Eastern regions of the country. With a solid foundation and a proven track record, Cygnett is set to further strengthen its market position through an aggressive pan-India expansion, underscoring its commitment to excellence and its status as a preferred choice in the midscale hotel segment.

The outstanding performance of Cygnett in 2023 has set a new benchmark for the company. The year witnessed a significant 15.6 per cent increase in Average Daily Rate (ADR) and a remarkable 15.1 per cent growth in Revenue per Available Room (RevPAR). These figures underscore the brand's resilient operational strategies and its ability to adapt to market demands. With occupancy rates reaching around 80 per cent in most hotels, the brand's popularity and the effectiveness of its sales and marketing networks are evident. Central to Cygnett's success is its unwavering focus on customer satisfaction, with an impressive 90 per cent of guests being repeat visitors.

In a strategic move for the next 2 years, Cygnett aims to expand its presence strategically, targeting regions with high tourism potential and robust business activity. This expansion initiative is designed to cover the entire nation. Key markets for this expansion include vibrant cities and emerging tourist destinations, ensuring a diverse and inclusive hospitality experience for travellers. Currently, Cygnett Hotels boasts a portfolio of 45 hotels and is on track to reach a milestone of over 33 operational hotels by the end of 2024.

The ospitality company is poised to enhance and solidify its footprint in North-Eastern India, with the launch (2025 March) of its Cygnett Inn brand in Tawang. This marks a distinctive presence, being the only brand alongside Taj to establish a presence at an elevation of 3048 meters in the Himalayan region of Arunachal Pradesh. Additionally, the economic hubs of Assam, including Guwahati, Barpeta, Nagaon, and Galahad, are set to welcome Cygnett hotels, further broadening the brand's reach within the region.

Mr Sarbendra Sarkar, Founder, of Cygnett Hotels & Resorts said, “I am thrilled to witness our brand's phenomenal growth in 2023, setting the stage for an even more ambitious 2024. It's incredible to realize that it has been 10 years since I started the company in 2014, and time truly flies when you're passionate about your work. Our expansion strategy not only underscores our commitment to establishing a pan-India presence but also highlights our unwavering dedication to redefining hospitality standards. I am happy that Cygnett continues to evolve, and we are particularly excited to introduce our new wellness brand, 'Ayurvyaas.' At Cygnett, we believe in offering not just accommodations but transformative experiences, with wellness taking centre stage.”

In a move to diversify its offerings, Cygnett is all set to unveil its new wellness and lifestyle brand, Ayurvyaas with an 80-room property coming up in Chail, Himachal Pradesh, within the year. This brand is dedicated to delivering a comprehensive wellness experience that blends ancient Vedic wisdom with modern practices, aiming at holistic physical, cognitive, and spiritual rejuvenation for its guests.

The hospitality brand is keen on strengthening its footprint in major second and third-tier cities in the country. Kicking off 2024, Cygnett is excited to announce the launch of Cozzet in Sonipat in February, signalling a promising start to the year.

“We are committed to reinforcing our upscale and midscale brand portfolio nationwide, with plans to inaugurate Cygnett Inn Vrindavan, Cygnett Residences in Bhiwadi, Cygnett Inn Kolkata, and Cygnett Inn Guna in Madhya Pradesh. Moreover, Itanagar in Arunachal Pradesh is set to host its second Cygnett hotel, Cygnett Park, an 80-key business hotel designed with contemporary architecture and aesthetics at its core. Additionally, a 120-key Cygnett resort, Riverview in Lucknow, is on the horizon, expected to be opened by year's end. The property will be nestled within a sprawling 100-acre site bordered by the Gomati River on three sides,” shared Mr Sarkar.

In line with the company's vision to offer comfortable accommodations and unparalleled hospitality across its brands, the budget hotel brand “Cozzet by Cygnett” is expanding its presence in several key locations, including Jamshedpur - the steel city of India, Mahad - the business hub close to Navi Mumbai, the temple city of Puri, SIDCUL Haridwar, Chittorgarh and Phalodi (Rajasthan). Cygnett is also ready to diversify its brand portfolio of hotels in cities like Jaipur and Ayodhya. Ayodhya will have its second and Jaipur will witness its third Cygnett hotel soon.

Beyond domestic expansion, Cygnett Hotels is eyeing the international markets, targeting countries with significant Indian diaspora populations such as Nepal, Sri Lanka, Vietnam, the UAE, and East Africa.

“We are redefining a future where travel unlocks with an aggrandized hospitality concept. A future where our powerful brands deliver Cygnetture experience and our constant innovation is creating new value and expanding boundaries. Cygnett's expansion plan is aligned with its vision of becoming a ubiquitous entity in the Indian hospitality sector, offering a blend of luxury, comfort, and unique experiences. The brand's strategic approach encompasses not only geographical expansion but also a deepened commitment to operational excellence and customer-centric services,” added Mr Sarkar.

The company's vision for the future goes beyond numerical growth, focusing on a profound engagement with sustainable and innovative hospitality practices. As Cygnett continues its journey, it remains steadfast in its commitment to delivering unparalleled experiences, setting new paradigms in the hospitality industry. Quality hotels, great locations, affordable luxury, safety, consistent service, good food and sustainable practices are some of the brand’s value propositions.