UK-based extended-stay hotel operator Cycas Hospitality (Cycas) has expanded its footprint in the French market by signing its first lease agreement with Hyatt to manage its dual-branded hotel in Europe.
Under the deal, Cycas has agreed to operate the Hyatt Place and Hyatt House hotels, which are located on one site.
Cycas Hospitality partner Asli Kutlucan said: “We are proud to continue our relationship with Hyatt through this agreement, which sees us managing the Hyatt House extended-stay brand for the first time.
“This is a major milestone in our 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.
“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.”
Located near Paris Charles De Gaulle airport, the 21,631m2 five-storey building has a total of 430 rooms, of which 309 rooms are in Hyatt Place, while the Hyatt House extended-stay hotel includes 121 rooms.
Scheduled to open in the second half of 2020, the two hotels will be sharing extensive all-day dining/bar facilities, gym, and a large swimming pool.
Hyatt Hotels Europe and North Africa Development vice-president Felicity Black-Roberts said: “We are delighted to be partnering with Cycas Hospitality on our first dual-branded project in Europe.
“We are confident that Cycas’s extensive experience of successfully managing double-decker hotels will help us take full advantage of the many opportunities that this prime airport location offers for corporate as well as leisure travellers.”