Cycas Hospitality makes France debut with Hyatt deal
Extended-stay hotel operator Cycas Hospitality has expanded its international reach with a new deal to manage the first dual-branded Hyatt property in Europe.
The lease agreement to operate the Hyatt Place and Hyatt House hotels near Paris Charles de Gaulle airport marks the company's first deal in France.
Cycas currently operates Hyatt Place London Heathrow Airport among 10 properties it operates under a variety brands in the UK and one in Amsterdam.
The two hotels, which are both on one site, will have a total of 430 bedrooms - 309 at Hyatt Place and 121 at the Hyatt House extended-stay hotel. The brands will share a number of facilities, including conference, dining/bar, gym and a large swimming pool.
Asli Kutlucan, partner at Cycas Hospitality, described the new deal as a major milestone in the company's 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".
She added: "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 the first for the company since Thai-based hotel business Hua Kee acquired a one-third share in Cycas Hospitality for an undisclosed sum last December.
Developed by Kaufman & Broad, the hotels are set to open in the second half of 2020.
Cycas Hospitality currently has a total of 2,782 suites and bedrooms open or under development across 18 hotels.
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