Cygnett Group of Hotels and Resorts plans to launch nine new properties in Dehradun, Jaipur (2 hotels), Bhiwadi, Dalhousie, Solan, Kolkata, Rajkot, and Goa. “We aim to add new properties to our portfolio in every quarter. There is a lot of pent-up demand, especially in the smaller cities and towns, and we want to aggressively capitalize on that demand,” said Mr. Sarbendra Sarkar. He also added that Cygnett properties are currently running at 70% occupancy as against India’s average of 52% occupancy. Highlighting the challenge of a declining Average Daily Rate (ADR), he said, “ADR has gone down by 30% this season. That’s a little worrying for the industry.” He further added that it would take another 8-10 months for the ADR to up to the pre-pandemic levels.
