The Cygnett Plan in Action
In an exclusive interview with Safari India Senior Correspondent Joyita Dutta, Sarbendra Sarkar, Founder and Managing Director of Cygnett Hotels & Resorts, outlines the brand’s aggressive growth plans across India and its ambition to go global. From frontier markets to luxury retreats, here’s how Cygnett is redefining its hospitality roadmap. Edited excerpts:
Joyita: Your latest signing in Itanagar puts Cygnett at the forefront of Northeast India. What makes this market so important?
Sarbendra: The Northeast is culturally vibrant and scenically unmatched. We were the first hotel brand to open in Itanagar back in 2018. Now, with better infrastructure—including a new airport—the region is opening up rapidly. Our upcoming hotel is just 800 metres from the airport and surrounded by natural beauty. We’re seeing a healthy mix of business, leisure, and wedding travellers. Over the next three years, we plan to expand to 20 hotels and 2,000 keys across the Northeast.
Joyita: Arunachal Pradesh recently launched a new tourism policy. How has that helped your growth?
Sarbendra: The policy has streamlined approvals and offered government support. Organised players are entering, and so are we—with upscale properties. The mix of demand across business, leisure, and MICE is very promising.
Joyita: You’ve also been expanding in the mid-scale segment. How is that segment performing?
Sarbendra: We’ve repositioned from budget to include upper mid-scale and upscale offerings. Mahad, near Mumbai and Pune, is doing well as an industrial and leisure gateway. Vrindavan, as a spiritual destination, offers year-round footfall. We’ve signed two properties there—one upscale and one budget. We’re moving from conversions to more standardised greenfield and brownfield projects, with a goal of 100 hotels and 10,000 keys in five years.
Joyita: And the luxury segment?
Sarbendra: We’re launching two premium projects—one wellness resort in Chail and a 250-key Moroccan-style resort in Pushkar with extensive MICE facilities. These will mark our entry into five-star experiences.
Joyita: How are you funding this rapid expansion?
Sarbendra: We’re an asset-light, debt-free, profitable company. Cash flows are strong, and we’re exploring equity investment from global players. We’re well-positioned to grow at scale without over-leveraging.
Joyita: Are you considering international markets?
Sarbendra: India remains our core focus, but we’re exploring Sri Lanka, Nepal, Bhutan, and even some parts of Africa and Southeast Asia. We’ll look at global growth more actively post-funding.
Joyita: With this scale, is an IPO on the horizon?
Sarbendra: Not immediately, but it’s certainly part of our long-term vision. Once we hit our target of 10,000 keys and 100 hotels—hopefully within the next five years—we will be in a position to explore an IPO or other strategic financial options. For now, our focus is on expansion, brand integrity, and operational excellence.
With an agile model, clear market segmentation, and bold regional bets, Cygnett is shaping up as one of India’s most dynamic hospitality brands, rooted in purpose and poised for scale.
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