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Cygnett Hotels to explore expansion opportunities in overseas markets; targets to become 5,000-room hotel chain in next 5 years

Monday, September 11, 2017, 15:00 Hrs  [IST]
HBI Staff| New Delhi

Cygnett Hotels and Resorts, a hotel management and brand franchising company, which manages Cygnett brand of hotels in India, will look expansion opportunities in overseas markets close to India for its mid-market brands. The company will initially look at countries closer home like Sri Lanka, Bangladesh and Vietnam.  

In an interaction with Hospitality Biz, Sarbendra Sarkar, MD & Founder of Cygnett Hotels & Resorts said that the company is looking at expansion opportunities in the budget and economy space both in India and in overseas destinations closer home. Cygnett Hotels has brands in  all segments starting from 5-Star (Cygnett Plaza) to 4-star (Cygnett Park) to Budget (Cygnett Inn) and Economy (Cygnett Lite). “We are already in talks with couple of owners in these markets,” he said. 

Talking about future plans, Sarkar said that Cygnett has eight operational hotels currently in India and will be adding six more over the next couple of months. “By the end of the current financial year we will have at least 18 hotels signed and operational with over 1,000 rooms,” he informed. The company has set a target to have 100 hotels and 5,000 rooms by 2022.  

Meanwhile, Cygnett Hotels is the first hotel management company which has come up with a ‘manchise’  brand for the “non-standardised” budget and economy segment.  The company is keen to engage with the owners of non-branded budget and economy hotels which meet its conditions for their ‘Cygnett Lite’ brand. The company has two properties running in Sonepat and Digha under Cygnett Lite and have signed two more in Udaipur and Katra. “We do not want to be in the aggregator space. It is different from aggregator model.  We make cosmetic changes to the product, design a service relevant to the product and then put technology over it which connects the hotel with GDS. 

We don’t directly manage but monitor it from a central office,” Sarkar said.
Cygnett Hotels will also be targeting conversion space as lot of management contracts are about to expire in coming months and years.  “We are in touch with such owners.  We are, a young, techno-savvy brand with strong technical team.  Owners can join our brand at lower conversion cost,” Sarkar added.

 
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