Cygnett Hotels and Resorts plans to expand its operations

Cygnett Hotels and Resorts, affordable luxury hospitality brand, has chalked out an aggressive plan to expand its operations in India and abroad with a planned investment of Rs 280 crore over the next fiscal.

Sarbendra Sarkar, Founder and MD of Cygnett, said, "We are scouting locations in cities like Rishikesh and Vrindavan. By 2020, we shall have four wellness spa resorts with an investment of Rs 120 crore."

"We are planning 10 more properties in India. In this leg of expansion, we intend to focus on the east and northeast due to the immense tourism potential here. We shall have two properties in Kolkata and at least five in the northeast by 2020," he added.

Sarkar further stated, "The new northeast ventures will see an investment of Rs 65 crore, while the two in Kolkata will receive Rs 30 crore. We have plans to acquire the management of properties in Odisha in 2020. The northeast properties will be in Itanagar, Gangtok, Tinsukia, Dibrugarh and Yangang."

Currently, Cygnett is managing 30 properties across 25 locations in India in the luxury, mid-range and budget segments under five brands. It is also looking to manage properties in Bangladesh and Sri Lanka with a planned outlay of Rs 80 crore in the next fiscal.