Cygnett Hotels & Resorts has unveiled its latest property, Cygnett Inn Kharagpur, in West Bengal, marking an important milestone in the company’s strategy to expand its presence in the Indian hospitality market. This initiative is designed to tap into the increasing demand for affordable yet high-quality accommodation in Kharagpur, an industrial hub that is witnessing substantial growth in corporate travel. By focusing on secondary cities and towns throughout India, Cygnett aims to meet the rising need for budget and midscale hotel options, which have become essential as the preferences of domestic and international travelers evolve.
The Indian hospitality industry is experiencing stable demand growth, particularly in the midscale segment, which is crucial in driving overall room occupancy and revenue, according to Sarbendra Sarkar, the founder and managing director of Cygnett Hotels & Resorts. The strategic location of Kharagpur, with its robust corporate travel base, positions Cygnett Inn Kharagpur as an optimal choice for both business travelers and tourists. The hotel is equipped with more than 75 rooms, catering to the needs of diverse clientele, whether they are visiting for work or leisure.
Cygnett Inn Kharagpur boasts a range of comprehensive facilities that enhance the guest experience, making it an attractive venue for various events and gatherings. The property features over 6,000 square feet of banquet space alongside 5,000 square feet of landscaped lawns, providing ample options for meetings, weddings, and other celebrations. In addition to its event facilities, the hotel offers various amenities including an all-day dining restaurant, a lobby lounge, a bar, a health club, and a swimming pool, ensuring that guests have access to numerous conveniences during their stay.
Looking ahead, Cygnett Hotels & Resorts is committed to strategic expansion across destinations that exhibit a high potential for both tourism and business activity. The company plans to roll out multiple new properties in the coming years, which is part of its larger goal to operate over 100 hotels by 2029. By targeting locations with robust tourism appeal and significant corporate presence, Cygnett aims to provide consistent service quality while adhering to sustainable hospitality practices.
The global budget hotel market is projected to experience significant growth in the coming decade, increasing from $276.3 billion in 2022 to $430.9 billion by 2032, at a compound annual growth rate (CAGR) of 4.1% from 2023 to 2032. Cygnett Hotels & Resorts aspires to make a substantial contribution to this expanding market, capitalizing on the growing demand for economically viable accommodation options that do not compromise on quality and service.
Overall, the introduction of Cygnett Inn Kharagpur represents a strategic move by Cygnett Hotels & Resorts to strengthen its foothold in the Indian hospitality landscape, particularly in emerging cities that show promise for business and tourism. With a focus on delivering high-quality services and a diverse array of amenities for guests, Cygnett is poised to play a vital role in shaping the future of affordable hospitality in India.