Cycas signs ninth London property and fifth airport hotel
Cycas Hospitality continues to grow its European portfolio with a new hotel management agreement for its first property under the Courtyard by Marriott brand.
The hotel management company has signed a deal with developer Bricks Capital to operate the 196-room Courtyard London City Airport, a seven-storey property which will incorporate a ground-floor restaurant and meeting facilities. Bricks Capital was advised by Colliers International.
Due to open in 2020 moments from London City Airport, the new-build hotel will be a timely addition to the airport’s infrastructure as it undergoes a £500 million redevelopment, set to quadruple the size of its passenger terminal.
In 2018, Cycas has accelerated its European expansion programme through key deals across the UK, France and Benelux which ensure the company is on target to have more than 10,000 guest rooms within its portfolio by 2022.
This year the company has opened its first dual-branded hotel with Marriott in Amsterdam’s Houthavens area, announced its expansion in France by signing a lease agreement for Hyatt’s first dual-branded development in Europe, close to Paris Charles de Gaulle airport, and a hotel management contract for a stand-alone Hyatt Place hotel in Rouen and signed a lease agreement for a Residence Inn at Brussels Airport. In the UK, Cycas also signed a contract to operate its first standalone Moxy hotel in Liverpool.
This deal becomes Cycas’s ninth Marriott-branded hotel and joins Residence Inn and Moxy to become the third Marriott flag operated by Cycas.
John Wagner, Co-founder and Managing Partner at Cycas Hospitality, said: “Today’s signing is our first Courtyard property in the Cycas portfolio and signals a new chapter in our history.
“While Cycas is known for having pioneered the branded extended-stay hotel concept and developing dual-branded hotels for international hotel groups, this deal to add a new Marriott brand to our portfolio demonstrates the success of our partnership over the last few years as well as the continued relevance of Marriott International’s largest brand for today’s travellers.
“We’re excited to be working in partnership with Bricks Capital to bring this Courtyard by Marriott hotel to a key central London location and look forward to maximising our local knowledge to offer business travellers high-quality accommodation with excellent transport connections across the capital.”
Peter Prickett, Founder and CEO of Bricks Capital, added: “London City Airport is a key gateway for business travellers and, with a significant redevelopment programme underway, bringing a Courtyard by Marriott hotel makes perfect sense.
“Cycas Hospitality is a natural choice for us to partner with given its solid track record of managing Marriott-branded hotels and knowledge of the London market. We look forward to delivering a best-in-class hotel for travellers coming to the capital and delivering the amenities and accessibility requirements that meet the evolving needs of today’s guests.”
Tony Swindells, Director of KKA Architecture, commented: “We are delighted to be involved in another prestigious development with Bricks Capital and Marriott. The project will provide a much needed ‘gateway’ structure at the entrance to this important transport hub, finally providing a notable urban landmark commensurate with the ambitious regeneration of the area.”
As the first hotel built for business travellers, the Courtyard by Marriott concept has been a trendsetter in the select service hotel space since the early 1980s, generating more future revenue from new millennial guests than any other Marriott brand. With nearly 30 hotels anticipated to open in Europe by the end of 2020, Courtyard will offer business travellers a continually elevated experience that meets the generational shift in how the brand’s guests work and travel today.