Cycas signs deal to bring Radisson Hotel & Suites concept to Western Europe
- Radisson Hotel Group becomes Cycas’s sixth global hospitality partner
- The deal marks Cycas’s fifth Benelux property, and its third hotel in Amsterdam
Cycas Hospitality has signed a lease agreement with ECHO Partners to operate its first Radisson-branded property; the Radisson Hotel & Suites Amsterdam South.
When it opens in early 2021, the 227-suite Amsterdam aparthotel – which was recently acquired for the ECHO Fund - will become the first all-suite property to operate under the upscale Radisson brand in Western Europe.
To appeal to both transient and longer-staying travellers visiting the Dutch capital, each of the studio, one-bed and two-bed apartments has its own fully-equipped kitchen. Other facilities at the canal-front hotel include a gym, on-site bar and restaurant with outdoor terrace seating, plus underground parking for 70 cars.
Located in Amstelveen to the south of the city, the 10-storey hotel is within walking distance of the international companies who have their headquarters in Amsterdam’s booming district, such as KPMG, KLM and Canon. With great transport links to the Zuidas central business district (3km), city centre (6km) and Schiphol Airport (8km), the property is well placed to cater for the growing demand for extended-stay accommodation options in this part of the city amongst project workers and relocating employees.
Asli Kutlucan, Chief Development Officer at Cycas Hospitality, said: “We are excited to be opening our first hotel with Radisson Hotel Group and with ECHO Partners. It says a great deal for the calibre of these organisations that we were able to negotiate a key signing during the COVID-19 ‘lock-down’.
“All three companies share an ambition to grow across Europe, and we look forward to expanding these new partnerships in the months and years to come.”
Elie Younes, Executive Vice President & Chief Development Officer, Radisson Hotel Group, said: “We are proud to launch our first extended stay product in Western Europe, marking our 54th serviced apartment in EMEA.
“As an asset class, ‘extended stay’ has been increasingly resilient and relevant in recent times. We are delighted to be partnering with Cycas Hospitality in such a key European market as Amsterdam and look forward to welcoming our first guests together in early 2021.”
Michael Regner at ECHO Partners, said: “This stand-out property in a gateway city represents our fourth hotel acquisition for our ECHO Fund in top locations and A-cities across Europe, and our first in The Netherlands.
“We are excited to establish a high-profile partnership with Cycas and Radisson, capitalising on both their international and local market expertise and creating value by entering into a long-term contract. A partnership of this quality is exactly what we had in mind when we acquired the hotel late last year.”
Following the agreement, the new aparthotel becomes Cycas’s fifth property across the Benelux, and third in Amsterdam, where the hotel management company is headquartered.
Suzanne Seyghal, Cycas Hospitality
email@example.com, T: +44 (0)7967 978 911
Martin Melzer, Radisson Hotel Group, Central & Southern Europe
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Lucie Cardona, Director, Corporate Communications, PR & Reputation Management
Notes to Editors
About Cycas Hospitality
- Founded in 2008, Cycas Hospitality is a pioneering hotel management company on a mission to make its hotels the best places to work as well as stay.
- Operating across both the extended-stay and mainstream hospitality sectors, Cycas plans to triple its portfolio to more than 10,000 guest rooms across the UK and mainland Europe.
- With proven expertise in operations, property development and asset management Cycas is the preferred hotel operator for major international franchise brands. Having helped IHG, Hyatt and Marriott develop their dual-branded hotel concept in Europe, in 2019 Cycas partnered with Quest Apartment Hotels to launch their first European property, and welcomed Accor as its fifth international hotel group partner. In 2020, Cycas signed its first deal with Radisson Hotel Group.
- With a distinctive performance culture and the philosophy that “our job is not over until we get a smile”, Cycas was recognised as a ‘Best Place to Work in Hospitality’ (2018 & 2019), and won the UK hospitality industry’s ‘Best Employer Award’ (Cateys 2018).
- To find out more visit www.cycashospitality.com or connect with us via LinkedIn and Twitter
About ECHO Partners AG
- ECHO Partners AG (“ECHO Partners”), based in Wollerau, Switzerland, invests in hotels, which are located in leading Continental European tourist destinations, such as Vienna, Amsterdam or Budapest and relies on long-term tourism trends.
- We are identifying and purchasing hotels with a purchase price in the EUR 10-70MM range and a target acquisition yield at or above 5%. The ECHO Fund is the first investment fund of ECHO Partners to implement this strategy.
- For more information, visit www.echopartners.fund.
About Radisson Hotel Group
- Radisson Hotel Group is one of the world's largest hotel groups with seven distinctive hotel brands, and more than 1,400 hotels in operation and under development in 120 countries. Its signature service philosophy is Every Moment Matters.
- Radisson Hotel Group portfolio includes Radisson Collection, Radisson Blu, Radisson, Radisson RED, Park Plaza, Park Inn by Radisson and Country Inn & Suites by Radisson, brought together under one commercial umbrella brand Radisson Hotels.
- Radisson Rewards is our global rewards program that delivers unique and personalized ways to create memorable moments that matter to our guests. Radisson Rewards offers exceptional loyalty benefits for our guests, meeting planners, travel agents and business partners.
- Radisson Meetings places its guests and their needs at the heart of its offer and treats every meeting or event as more than just a date on the calendar. Radisson Meetings is built around three strong service commitments: Personal, Professional and Memorable, while delivering on the brilliant basics and our signature Yes I Can! service spirit and being uniquely 100% Carbon Neutral.
- More than 100,000 team members work at Radisson Hotel Group and at the hotels licensed to operate in its systems.
- For more information, visit https://www.radissonhotels.com/corporate.