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Cygnett to open 6 hotels this year

Press Trust of India  |  New Delhi 

Kolkata-based Cygnett Hotels & Resorts will open six hotels with a total room capacity of over 300 in the budget and mid segment category this year.

Cygnett Hotels & Resorts today announced an association with Jameson Inn Inc as a part of which it would open one hotel each year under the brand of US budget hotel chain. The first such property has come up in The company has already joined hands with US-based ABF Inc.

"We have a definite plan to create our own assets pan and then transcend into the sub continent with the help of our US collaborators," Cygnett Hotels & Resorts Managing Director Sarbendra Sarkar told reporters here.

Apart from Kolkata, the company would open hotels at Varanasi, Lucknow, Jaipur, Guwahati, by the end of this year, he added.

He, however, declined to share the investment on the upcoming properties.

Sarkar said the firm is looking at non-metro places and state capitals as its growth driver.

"Our growth would come from tier II and III places which are untapped markets. They are our first priority. Then we would also focus on various state capital," he said.

The company is also opening a new 100-room hotel in Nepal which would be functional in next six months.

On the future growth, Sarkar said that the company was planning to have at least 3,000 keys by 2020.

"Our focus and approach is to franchise and manage around 45 hotels pan by end of 2020," he said.

The company would expand in the mid and budget segment under its two brands - Cygnett Inn and Cygnett Park.

"Cygnett Inn would be a completely budget hotel and its bracket would be Rs 3,000 to Rs 4,500 while Cygnett Park would range from Rs 4,000 to Rs 5,500," he said.

The company would represent the US-based budget hotel brand Jameson Inn in India, he said.

First Published: Thu, April 24 2014. 18:29 IST