Cycas Hospitality has entered the French market with an inaugural deal with Hyatt, following a detailed feasibility study showing a market for extended-stay hotels.
Continuing its European rollout, Cycas Hospitality will manage the first dual-branded Hyatt property in the continent. Cycas has signed a lease agreement to operate the Hyatt Place and Hyatt House hotels, which are both on one site, close to Paris’ Charles De Gaulle Airport.
“This is a major milestone in our international rollout plans”
Asli Kutlucan, a partner at Cycas Hospitality, 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.”
The 21,631sqm, five-storey building is located in Paris Nord 2 International Business Park at 241 rue de la Belle Etoile in Roissy. It will have a total of 430 rooms (309 at Hyatt Place and 121 at the Hyatt House extended-stay hotel) with the hotels sharing a conference space, extensive all-day dining/bar facilities, a gym and a large swimming pool; a rare amenity in this location.
Hyatt experienced success with similar locations in the US and this will be the first extended-stay hotel around Charles De Gaulle airport. The hotel’s location will attract corporate demand from the local major commercial and industrial hubs around the airport, which links Paris with Lille and the north of France.
“Cycas’s extensive experience… will help us take full advantage of the many opportunities that this prime airport location offers”
Felicity Black-Roberts, vice president of development, Europe and North Africa at Hyatt Hotels, 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.”
Hyatt Place and Hyatt House are set to open in the second half of 2020.