In its first venture outside the U.K., Cycas Hospitality has opened a dual-branded extended-stay property in Amsterdam.
The property, which will be split under Marriott’s Moxy and Residence Inn brands, is located on Amsterdam’s western harbor front in the Houthavens area — the city’s emerging creative and fashion district. The hotels will be managed under a franchise from Marriott International.
The opening of the hotels is the first step of Cycas’ plans to continue the rollout of extended-stay hotels throughout Europe. With a key focus on the United Kingdom, the Benelux countries, France and Germany, the extended-stay specialist’s ambition is to treble its number of guest rooms from 3,000 (currently open and operating, or signed and in the pipeline), to more than 10,000 in the next five years.
Cycas, which partners with institutional and private investors and has clients such as Starwood Capital, M&L Hospitality, and CLS Holdings, recently received a multimillion-euro investment from Hua Kee. The Thai family office and hotel operator acquired a one-third share in Cycas as a result of the investment.
The new hotels in Amsterdam’s Houthavens are Marriott’s second dual-branded property in Europe. The Moxy Amsterdam Houthavens offers 120 bedrooms, seven meeting rooms, a bar and lounge with an energetic, contemporary vibe. The Residence Inn Amsterdam Houthavens, meanwhile, features 60 studios and one-bedroom suites. The hotels share a pool, sauna and gym.
Cycas also has expanded its development and acquisition team, which is led by partner Asli Kutlucan. The new team members are Lisa Neubueser, (director of development and acquisition) a former director of hotel fund management at Invesco Real Estate in London; Nicole Perreten, (head of feasibility) who formerly worked with international hospitality consulting firm HVS, and Christos Georgiou (business development manager), whose experience includes roles with Spitfire Capital Advisors, UBS and Nomura.
Kutlucan, said: “Whereas extended stay is already established in the U.S., 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.”
Eduard Elias, the founder of Cycas Hospitality, added: “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, capitalizing on increasing demand from travelers who value independence and flexibility.”
