Cycas enters French market with deal to manage Hyatt’s first European dual-branded hotel

By James Wallace - Tuesday, April 10, 2018 11:35

Cycas Hospitality, the UK hotel operator, has signed a lease agreement to operate the Hyatt Place and Hyatt House hotels, in its its inaugural deal in France which will see it manage the first dual-branded Hyatt property in Europe.

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. Developed by Kaufman & Broad, the hotels are set to open in the second half of 2020.

Hyatt Place and Hyatt House hotels are both close to Paris Charles De Gaulle airport. Cycas currently operates Hyatt Place London Heathrow Airport.

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.

Asli Kutlucan, Partner at Cycas Hospitality, said: “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.”

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.

James Wallace is a freelance consultant and can be reached via Linkedin or email: jawallace32@gmail.com

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