Retail India News: Instacart Join Forces With Uber Eats for Seamless Restaurant Deliveries – Indian Retailer

2 minutes, 39 seconds Read

Cygnett Hotels and Resorts, aiming to become the leading and largest brand in India’s midscale hospitality sector, unveils an ambitious expansion strategy for 2024.

Building upon the substantial growth experienced in 2023, especially in the North and North Eastern regions, Cygnett plans to solidify its market presence nationwide.

The performance of Cygnett in 2023 has established a new standard for the company. During the year, there was an increase of 15.6 percent in Average Daily Rate (ADR) and a growth of 15.1 percent in Revenue per Available Room (RevPAR).

These statistics highlight the brand’s resilient operational strategies and its ability to respond effectively to market dynamics.

With occupancy rates averaging around 80 percent across most hotels, the brand’s popularity and the effectiveness of its sales and marketing efforts are evident. 

As part of its strategic plan for the next two years, Cygnett intends to strategically broaden its footprint, focusing on regions with significant tourism prospects and thriving business environments.

Major markets targeted for expansion comprise dynamic urban centers and up-and-coming tourist hotspots, guaranteeing a varied and inclusive hospitality offering for travelers.

Presently, Cygnett Hotels manages a collection of 45 hotels and is projected to achieve more than 33 operational hotels by the conclusion of 2024.

The hospitality firm is set to strengthen its presence in North-Eastern India with the introduction of its Cygnett Inn brand in Tawang in March 2025.

This signifies a unique milestone as Cygnett becomes one of the few brands, alongside Taj, to establish a presence at an elevation of 3048 meters in the Himalayan region of Arunachal Pradesh.

Moreover, Cygnett hotels are scheduled to launch in key economic centers of Assam, including Guwahati, Barpeta, Nagaon, and Galahad, expanding the brand’s footprint within the region.

 “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. 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.” said Sarbendra Sarkar, Founder, of Cygnett Hotels & Resorts.

 As part of its efforts to broaden its range of services, Cygnett is preparing to introduce its latest wellness and lifestyle brand, Ayurvyaas. The brand’s first property, featuring 80 rooms, is scheduled to open in Chail, Himachal Pradesh, within the upcoming year.

Aligning with the company’s vision of providing comfortable accommodations and exceptional hospitality across its brands, Cygnett’s budget hotel brand “Cozzet by Cygnett” is expanding its presence in several strategic locations.

These include Jamshedpur, known as the steel city of India, Mahad, a prominent business hub near Navi Mumbai, the temple city of Puri, SIDCUL Haridwar, Chittorgarh, and Phalodi in Rajasthan.

Additionally, Cygnett is poised to diversify its brand portfolio by introducing new hotels in cities like Jaipur and Ayodhya, with Ayodhya slated to have its second Cygnett hotel and Jaipur preparing for its third Cygnett establishment.

In addition to expanding domestically, Cygnett Hotels is looking towards international markets, focusing on countries with substantial Indian diaspora communities such as Nepal, Sri Lanka, Vietnam, the UAE, and East Africa.


This post was originally published on 3rd party site mentioned in the title of this site

Similar Posts

    Your Cart
    Your cart is emptyReturn to Shop