Cycas enters German market with Element Frankfurt Airport deal

George Sell George Sell Uploaded 09 January 2019

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Germany: Cycas Hospitality has signed its inaugural property in Germany, adding a new extended stay brand to its roster.

The company has secured a deal to operate the privately-owned 133-suite Element Frankfurt Airport on a long-term lease from 18 December 2018. Element becomes the fifth extended-stay brand in the Cycas portfolio, and the property is the 13th extended-stay hotel (out of a total of 23) that the company operates.

Cycads also operates properties under the Staybridge Suites (IHG), Residence Inn (Marriott), Hyatt House and South Point Suites brands.

Originally opened in 2014 as Europe's first Element hotel, the seven-storey property is located in Gateway Gardens; a 700,000 square metre business village within walking distance of Frankfurt International Airport's Terminal 2. Home to more than 500 companies and a 78,000-strong workforce, the development benefits from easy access to the neighbouring A3/A5 motorway junction and, from late 2019, will also have its own rapid transit station with direct high-speed trains into central Frankfurt.

The hotel will be managed by Cycas Hospitality's area general manager, Bart Luijk. A fluent German speaker who managed Marriott's second European Element hotel (Amsterdam), before joining Cycas in November 2017, he is also responsible for the company's newest double-decker hotel, which combines Marriott's Moxy and Residence Inn brands in Amsterdam's Houthavens district.

Eduard Elias, co-founder and managing partner at Cycas Hospitality, said: "Last year Cycas identified Germany as one of our target markets, thanks in part to the country's strong extended-stay potential. This deal to manage our first German hotel therefore signals a key step in our ambition to triple our European portfolio. As Germany's financial hub, Frankfurt's reputation as the 'gateway to Europe' has become even more significant since Britain's vote to leave the EU. There's no doubt that the increased connectivity planned for Gateway Gardens this year will boost the hotel's appeal to business travellers and project workers alike. We are therefore thrilled to have introduced our fourth Marriott flag to the Cycas portfolio."

To find out what makes the German extended stay market really tick, don't miss Serviced Apartment Summit Europe RECHARGE in Berlin later this month.

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