Cycas strengthens management team as it opens first property outside the UK

George Sell By George Sell
31 January 2018 | Updated 31 January 2018

Netherlands: Cycas Hospitality has opened its first property in continental Europe and strengthens its acquisition and development team with three appointments.

The company has opened a dual-branded property under Marriott's Moxy and Residence Inn brands on Amsterdam's western harbour front in the Houthavens area. The hotels have been built in collaboration with developer Heren2, and will be managed by Cycas Hospitality under a franchise from Marriott International. The Moxy Amsterdam Houthavens offers 120 bedrooms, seven meeting rooms, and a bar and lounge. The Residence Inn Amsterdam Houthavens features 60 studios and one-bedroom suites. The hotels share a pool, sauna and gym.

Cycads says the opening of the property is the first step of its plan to rollout extended-stay hotels throughout Europe. With a key focus on the United Kingdom, the Benelux countries, France and Germany, Cycas aims 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 Asli Kutlucan. Lisa Neubueser, formerly of Zoku and Invesco, has joined as 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, will lead the Cycas feasibility team as head of feasibility. And Christos Georgiou, whose experience includes roles with Spitfire Capital Advisors, UBS and Nomura will be business development manager, focusing on expansion in the UK and M&A transactions.

Eduard Elias, partner and 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."

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