Business Wire

Cycas Hospitality Opens First Property Outside UK and Boosts Senior Development Team as Part of European Rollout

Del

Cycas Hospitality, one of the largest branded extended-stay hotels operators in the UK, has demonstrated its commitment to European expansion by opening its first property in continental Europe and growing its acquisition and development team through three new appointments.

Cycas Hospitality has opened a dual-branded property under Marriott’s Moxy and Residence Inn brands. The hotels are located on Amsterdam’s western harbour front in the Houthavens area - the city’s emerging creative and fashion district. The hotels have been realised in collaboration with the developer Heren2, and will be managed by Cycas Hospitality under a franchise from Marriott International.

The opening of these hotels is the first step of Cycas’s ambitious plan to continue the rollout of extended-stay hotels throughout Europe. With a key focus on the United Kingdom, the Benelux countries, France and Germany, the extended-stay specialist’s ambition is to treble its number of guest rooms from 3,000 open and operating, or signed and in the pipeline, to more than 10,000 in the next five years.

In order to facilitate this growth, Cycas has expanded its development and acquisition team, which is led by Ms. Asli Kutlucan. The new team members are:

  • Lisa Neubueser, who formerly worked for Dutch extended-stay brand Zoku International and was previously Director of Hotel Fund Management at Invesco Real Estate in London, where she oversaw a European hotel real estate portfolio of more than €1 billion. Lisa takes the role of Director of Development and Acquisition, expanding Cycas’s presence in Europe, starting with Germany.
  • Nicole Perreten, who formerly worked with international hospitality consulting firm HVS and will lead the Cycas feasibility team as Head of Feasibility.
  • Christos Georgiou, whose experience includes roles with Spitfire Capital Advisors, UBS and Nomura. Christos will be Business Development Manager, focusing on expansion in the UK and M&A transactions.

The expansion of the development and acquisition team follows a multi-million-Euro investment from Hua Kee in Cycas. The Thai family office and sizeable hotel owner and operator in Southeast Asia, Australia and Europe acquired a one-third share in Cycas, and its investment provides the business not only with additional working capital but also a co-investment partner and potential for future deals.

Cycas Hospitality’s turnover under management is forecast to treble over the next two years from €38 million to over €100 million, based purely on the business’s existing, secured and signed pipeline of hotels.

Eduard Elias, Partner & Co-founder at Cycas Hospitality, said:

“These new hotels, coupled with the expansion of our development and acquisition team, cement our position as the European leader in extended-stay accommodation and prepare us for further growth. With the capital in place to fund our ambitions and a bolstered team now on board to make them a reality, we are actively looking for new sites to operate across continental Europe, capitalising on increasing demand from travellers who value independence and flexibility.

“As well as launching our first hotels in continental Europe, this is the first time we have operated Marriott’s vibrant Moxy brand and we look forward to providing a warm welcome to guests in this exciting part of Amsterdam.”

Asli Kutlucan, Partner at Cycas Hospitality, said:

“Whereas extended stay is already established in the US, there is an enormous opportunity to expand this emerging asset class in Europe. I’m confident we’ve hired the best people in the business to ensure Cycas remains at the forefront of this rapidly evolving market and accelerate our international growth.”

The new hotels in Amsterdam Houthavens are Marriott’s second dual-branded property in Europe. The Moxy Amsterdam Houthavens offers 120 bedrooms, seven meeting rooms, a bar and lounge with an energetic, contemporary vibe. The Residence Inn Amsterdam Houthavens, meanwhile, features 60 studios and one-bedroom suites. The hotels share a pool, sauna and gym.

Notes to Editors

About Cycas Hospitality

  • Founded in 2007, Cycas Hospitality is a specialist in extended-stay hotels, managing over 1,450 suites and rooms across 11 properties. These are located in key city centre locations across the UK (London, Liverpool, Newcastle) and include Cycas’s first property in mainland Europe (Amsterdam).
  • Cycas Hospitality partners with institutional and private investors to maximise the full potential of their hotel assets. Its current clients include Starwood Capital, M&L Hospitality, and CLS Holdings plc.
  • Extended-stay hotels are notable for their efficient operating model and high margins; historically, long-stay hotels have outperformed the standard hotel model during times of recession and recovered faster to pre-crisis levels and strong growth is forecast for the sector in Europe
  • Following recent investment from the family-owned Hua Kee Group, Cycas will open three further properties by summer 2018 and 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 for each company.
  • The heart of Cycas’s first-class guest experience is a dedicated Culture Team who ensure each property operates with Cycas’s 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 on 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, Twitter and Facebook.

Contact information

Media Enquiries
Redleaf Communications
Emma Kane / Henry Columbine / Rishi Banerjee
020 3757 6894
cycas@redleafpr.com
@CycasHotels

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Corsair Infrastructure Partners Announces Transaction Involving DP World Australia23.1.2019 04:35Pressemelding

Corsair Infrastructure Partners (“CIP”), the global infrastructure investment business of Corsair Capital (“Corsair”), today announced that Gateway Infrastructure Investments (“Gateway”), an investment fund managed by CIP, as well as several other financial investors, have entered into agreements to sell their entire stakes in DP World Australia (Holding) Pty Ltd (“DPWA”) to DP World and new investment funds managed by CIP. The closing of the transaction is subject to regulatory approvals. As a result of this transaction, DP World, the original corporate parent of DPWA, will hold a majority stake in the company, alongside a substantial minority investment by CIP-managed funds. Hari R. Rajan, Managing Director of Corsair and Head of CIP, said, “We are pleased to have achieved the exit of Gateway’s investment in DPWA, while maintaining our strong relationship with DP World through our continued management of a large investment in the company. We believe this new shareholder structure wil

Yokogawa Joins Global 100 Most Sustainable Corporations in the World Index23.1.2019 04:00Pressemelding

Yokogawa Electric Corporation (TOKYO:6841) announces that it has been included in the 2019 Global 100 Most Sustainable Corporations in the World Index (Global 100). This is Yokogawa’s first time on the Global 100, one of the world's leading sustainability indices. Now in its 15th year, the 2019 Global 100 was disclosed in Davos on January 22nd by Corporate Knights, a Canadian media and research company focused on clean capitalism, to coincide with the World Economic Forum. To determine the 2019 ranking, Corporate Knights undertook a rigorous analysis of more than 7,500 companies with US$1B+ in revenues against global industry peers on a suite of up to 21 quantitative key performance indicators, weighted to reflect each industry’s impact profile. Yokogawa was ranked in the top 25% in both the clean revenues* and innovation capacity categories. In its core industrial automation and control business, Yokogawa works with customers in the energy, chemical, iron and steel, water, and other i

V-CAT to Begin a New Type of Crowdfunding, Using Digital Currency23.1.2019 00:00Pressemelding

V-CAT Vietnam will develop a new type of crowdfunding services that uses digital currency. A platform that uses the JC-coin digital currency will be built, and all data involved in transactions will be safely protected with leading-edge blockchain technology. Any user with JC-coins can exchange any physical or digital assets they might own on the platform for more JC-coins. This will provide the funding needed to develop revolutionary new products and services, together with users worldwide, and will enable new investments in all kinds of different businesses. V-CAT is proceeding with development of the MALLLESS platform in advance of an April 2019 launch of services. The goal is to host 10 million users worldwide by 2020. What makes MALLLESS unique is that businesses and individuals can take advantage of the point-transfer transaction model website and the proprietary wallet mechanism, both of which enable any selling of new or used goods, or of intangibles. There is also conversions

Prominent Trade Consulting Firm in South Korea Switches to Rimini Street Support for Its Oracle Database22.1.2019 23:00Pressemelding

Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, and the leading third-party support provider for Oracle and SAP software products, today announced that EC21, a leading export marketing and trade consulting firm in Korea, has switched to Rimini Street support for its Oracle Database software. By switching to Rimini Street, EC21 is able to dramatically reduce the total cost of maintenance of its Oracle Database by approximately 75 percent, and improved productivity within its IT department as resources can be reallocated to more strategic projects across the organization. EC21 can also maintain its robust, stable database platform for a minimum of 15 years from the time the company moved to Rimini Street, avoiding any unnecessary upgrades just to retain full support from the vendor. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190122005104/en/ Prominent Trade Consulting Fir

IFF to Release Fourth Quarter and Full Year 2018 Results February 1322.1.2019 21:15Pressemelding

Regulatory News: International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris: IFF) (TASE: IFF), a leading innovator of scent, taste, and nutrition, announced that it will release its fourth quarter and full year 2018 earnings results following the market close on Wednesday, February 13, 2019. The management team will host a live webcast on Thursday, February 14, 2019 at 10:00 a.m. ET to discuss results and outlook with the investor community. Investors may access the live webcast and accompanying slide presentation on the Company's website at ir.iff.com. For those unable to listen to the live webcast, a recorded version will be made available for replay. Meet IFF International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris: IFF) (TASE: IFF) is a leading innovator of scent, taste, and nutrition, with over 110 manufacturing facilities, 100 R&D centers, and 33,000 customers globally. At the heart of our company, we are fueled by a sense of discovery, constantly asking “what i

Gilead Sciences to Release Fourth Quarter and Full Year 2018 Financial Results on Monday, February 4, 201922.1.2019 21:05Pressemelding

Gilead Sciences, Inc. (Nasdaq: GILD) announced today that its fourth quarter and full year 2018 financial results will be released on Monday, February 4, after the market closes. At 4:30 p.m. Eastern Time, Gilead’s management will host a conference call to discuss the company’s financial results for the fourth quarter and full year 2018 and provide a business update. The live webcast of the call can be accessed at the company’s Investors page at http://investors.gilead.com/. Please connect to the company’s website at least 15 minutes prior to the start of the call to ensure adequate time for any software download that may be required to listen to the webcast. Alternatively, please call 877-359-9508 (U.S.) or 224-357-2393 (international) and dial the conference ID 3826138 to access the call. Telephone replay will be available approximately two hours after the call through 8:00 p.m. Eastern Time, February 6, 2019. To access the replay, please call 855-859-2056 (U.S.) or 404-537-3406 (int