Cycas Hospitality to manage Starwood Capital Group's extended-stay portfolio

10 October 2016 by Janet Harmer

Hotel management company Cycas Hospitality has been appointed to operate four extended-stay hotels in London, owned by Starwood Capital Group.

The agreement makes Cycas Hospitality the second largest operator of serviced apartments and aparthotels in the capital, just behind Marlin Apartments, according to Savills Research.

The four hotels to be managed by Cycas comprise 640 studios and one- and two-bedroom suites in Earls Court/Kensington, London Bridge, Bermondsey and Tower Bridge.

Starwood Capital acquired the properties in January 2015 after the former freehold owner went into administration. Think Apartments previously operated the hotels, which are currently being refurbished and will reopen in mid-2017.

Nick Chadwick, vice president at Starwood Capital, said that Cycas Hospitality was appointed to manage the properties as a result of its "excellent track record" in the extended-stay sector in the U.K. and Europe.

"We are confident that Cycas Hospitality's proven management techniques, coupled with a skill set that is relentlessly focused on making customers happy, will produce the best results for our guests and, ultimately, our investors."

Eduard Elias, managing director at Cycas Hospitality, added: "These properties are perfectly located in the heart of some of London's fastest-growing submarkets. We will work with our award-winning management teams to add value to these properties and transform them into destinations of choice for both business and leisure travellers."

Cycas Hospitality currently operates extended-stay properties in London partnership with Marriott International, Hyatt and InterContinental Hotels Group including Staybridge Suites hotels in Vauxhall and Stratford City, the Holiday Inn in Stratford City, and the Heathrow hotel on Bath Road, London.

Starwood Capital Group owns an extensive portfolio of hotels in the UK and last month announced the creation of the Principal Hotel Company, comprised of the Principal brand of iconic city centre hotesl and De Vere, which will feature country house properties, mixing leisure and conference facilities.

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