UK-based extended-stay hotel operator Cycas Hospitality signed its first deal in France to manage Europe's first dual-branded Hyatt property.
Cycas will operate the Hyatt Place and Hyatt House hotels, which are both on one site near Paris Charles de Gaulle Airport, through a lease agreement. These are the latest airport hotel management deals Cycas signed following the Hyatt Place London Heathrow Airport. The hotels developed by Kaufman & Broad are slated to open in the second half of 2020.
The five-story building is in Paris Nord 2 business park in Roissy. It will have a total of 430 guestrooms—309 at Hyatt Place and 121 at the Hyatt House extended-stay hotel. The property will be close to local major commercial and industrial hubs around the airport the and A1 corridor.
Hyatt House will be the first extended-stay hotel near Charles de Gaulle airport. This is also Cycas' first contract following a major investment from Thailand-based hotel owner and operator Hua Kee Group. Cycas is using Hua Kee Group's funding to expand its operations in Europe, which included the opening of the dual-branded Moxy and Residence Inn hotel in the Houthavens area of Amsterdam—Cycas' first dual-branded property in the Netherlands' capital city—at the end of January 2018. Real estate consultant Heren2 will develop the hotels, and Cycas will manage them under a franchise agreement with Marriott International.
Cycas' pipeline in Europe includes additional hotel deals in France and Germany. Other areas of focus for the group’s expansion are the Benelux countries and the UK. The group is now on track to have more than 10,000 guestrooms operating by 2022, expanding its inventory from its current total of 3,000 operating guestrooms.