CYCAS ENTERS FRENCH MARKET WITH DEAL TO MANAGE HYATT’S FIRST EUROPEAN DUAL-BRANDED HOTEL
Cycas Hospitality, one of the largest branded extended-stay hotel operators in the UK, is continuing its international rollout by signing its inaugural deal in France, which will see it manage the first dual-branded Hyatt property in Europe.
Cycas has signed a lease agreement to operate the Hyatt Place and Hyatt House hotels, which are both on one site, close to Paris Charles De Gaulle airport. Cycas currently operates Hyatt Place London Heathrow Airport.
The 21,631 sq m, five-storey building is located in Paris Nord 2 business park at 241 rue de la Belle Etoile in Roissy. It will have a total of 430 rooms – 309 at Hyatt Place and 121 at the Hyatt House extended-stay hotel – with the hotels sharing conference, extensive all-day dining/bar facilities, a gym and a large swimming pool; a rare amenity in this location.
Hyatt House will be the first extended-stay hotel around Charles de Gaulle airport and follows a detailed feasibility study by Cycas showing that there is a strong market for extended-stay hotels at major airports; Hyatt has also experienced success with similar locations in the US.
As well as appealing to international guests, the hotel location will attract corporate demand from the local major commercial and industrial hubs around Charles de Gaulle airport and the A1 corridor, which links Paris with Lille and the north of France.
Developed by Kaufman & Broad, the hotels are set to open in the second half of 2020.
Asli Kutlucan, Partner at Cycas Hospitality, said: “We are proud to continue our relationship with Hyatt through this agreement, which sees us managing the Hyatt House extended-stay brand for the first time. This is a major milestone in our international rollout plans, taking advantage of the growing and widely untapped market for the extended-stay concept in Europe to bridge the gap between hotels and home.
“With further deals in our pipeline in France and Germany, our next key focus, we are making steady progress towards our target of having more than 10,000 guest rooms open and operating by 2022. These are exciting times and we look forward to announcing further news soon.”
Felicity Black-Roberts, Vice President Development, Europe and North Africa at Hyatt Hotels, said: “We are delighted to be partnering with Cycas Hospitality on our first dual-branded project in Europe. We are confident that Cycas’s extensive experience of successfully managing double-decker hotels will help us take full advantage of the many opportunities that this prime airport location offers for corporate as well as leisure travellers.”
David Laurent, Senior Vice-President Commercial Property and Major Urban Projects of Kaufman & Broad, said: “This realisation demonstrates our expertise in hotel residences and proves our ability to respond to the hotel residence industry’s demand. It also shows the capacity of Kaufman & Broad to develop several complex projects and meet the expectations of the population density and the new customs of the city.”
The deal is Cycas’s first following a major investment from Huakee Group, the Thai family office and a major hotel owner and operator in Southeast Asia. With this backing, Cycas is rapidly growing its operations in Europe, including opening its first dual-branded hotel in Amsterdam at the beginning of the year under Marriott’s Moxy and Residence Inn brands.
|Emma Kane / Henry Columbine / Rishi Banerjee
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Notes to Editors
About Cycas Hospitality
- Founded in 2008, Cycas Hospitality is a hotel management company which specialises in extended-stay properties. Its spacious hotel apartments combine the flexibility of home with classic hotel services.
- With a total of 2,782 suites and rooms open or under development across 18 hotels, 11 of these are open and three will open in summer 2018. These are in key city centre locations across the UK (London, Liverpool, Manchester, Newcastle) and include Cycas’ first properties in mainland Europe (Amsterdam, Paris).
- Following recent investment from the family-owned Huakee Group, Cycas intends to grow its portfolio to more than 10,000 guest rooms in the next five years.
- Having pioneered the branded extended-stay hotel concept in Europe, Cycas is London’s leading operator in this field and a partner of choice for major global hotel franchise brands plus international investors. In Europe, Cycas is the largest extended-stay operator for IHG’s Staybridge Suites brand and Marriott’s Residence Inn, and helped develop the dual-branded hotel concept in the region for each company.
- The heart of Cycas’ first-class guest experience is a dedicated Culture Team who ensure each property operates with Cycas’ signature ‘positively outrageous service’ and the philosophy that “our job is not over until we get a smile”.
- Cycas delivers a combination of expertise in hotel operations, property development and asset management. Its overarching goal is to become one of the best hospitality employers in the market, making its hotels the best places to work as well as stay.
- To find out more visit www.cycashospitality.com or connect with us via LinkedIn and Twitter.
About Hyatt Hotels Corporation
- Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 14 premier brands.
- As of December 31, 2017, the Company’s portfolio included more than 700 properties in more than 50 countries across six continents. The Company’s purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to attract and retain top colleagues, build relationships with guests and create value for shareholders.
- The Company’s subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences, vacation ownership properties, and fitness and spa locations, including under the Park Hyatt®, Miraval®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Andaz®, Hyatt Centric®, The Unbound Collection by Hyatt®,Hyatt Place®, Hyatt House®, Hyatt Ziva™, Hyatt Zilara™, Hyatt Residence Club® and exhale® brand names.
- For more information about Hyatt Hotels Corporation, please visit www.hyatt.com.
About Kaufman & Broad
- Kaufman & Broad has been designing, building, and selling single-family homes in communities, apartments, and offices on behalf of third parties for 50 years.
- Kaufman & Broad is one of the leading French Property Development & Construction companies due to the combination of its size and profitability, and the strength of its brand.
- For more information: realestate.kaufmanbroad.fr
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