In Ayodhya, Cygnett opens its second hotel.
Cygnett Hotels & Resorts has announced the signing of its second property, Cozzet Ayodhya, in Ayodhya to suit both leisure and corporate tourists.
The new hotel will have an all day dining restaurant and 70 luxurious rooms. In addition, the hotel will have meeting rooms, an 8,000 square foot banquet space with a lawn, a gym and cutting edge technology.
Commenting on the signing, Sarbendra Sarkar, Founder and Managing Director, Cygnett Hotels & Resorts, said, “With Cozzet Ayodhya, our focus is on offering dependable quality, efficient design and strong value to guests visiting the city for faith, family events, and short leisure stays. This acquisition fits with our plan to grow in tier-2 and high growth pilgrimage markets with clear demand”.
Economy hotels make for around 29 percent of India’s total room supply and together with mid scale hotels, dominate the country’s hotel inventory. Domestic travel, weddings and better regional connectivity have all contributed to the current valuation of the Indian budget hotel sector, which is close to USD 6 billion.
