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Our Origins

Cycas was founded by entrepreneurs, John Wagner and Eduard Elias, in 2008 and by 2010, Cycas had both opened its first hotel, the Staybridge Suites Liverpool and established a culture within Cycas that remains cherished today.

A combination of the unique, ‘like-family’ service ethos of extended stay, together with heartfelt Liverpudlian warmth, set Cycas Hospitality firmly on a path for wider success.

London Olympics

Cycas partnered with IHG, sponsors of the London Olympic Games, to open their flagship Holiday Inn and Staybridge Suites, overlooking the Olympic Park in Stratford.

The hotels were used as a base for British Swimming and the Paralympics Committee. They were IHG’s first ‘double-decker’ property in Europe, a milestone Cycas would go on to repeat in the years to come with both Marriott and Hyatt.

Broadening Horizons

Building on its substantial expertise in the extended-stay sector, strong employer brand and hard-earned reputation for service excellence, Cycas broadened its ambitions.

With new funding from Thai investment partner, Hua Kee, Cycas set out a strategy to become a pan-European management platform, covering all sectors of hospitality across major European markets.

European Expansion

Cycas opened its first hotels in continental Europe, the Residence Inn and Moxy in Amsterdam. These hotels also served as Cycas’ new headquarters, capitalising on the hospitality expertise, language skills, transport connections and international mindset of the Netherlands.

Cycas’ reputation as the hospitality sector’s employer of choice was cemented with recognition as Caterer Magazine’s Hospitality Employer of the Year. Cycas went on to rank in the top-30 for five, consecutive years (2018-22), a unique feat among independent management companies.

New Leadership

Cycas’ founders stepped back, with Hua Kee taking a majority shareholding in the company, and Cycas welcomed its first CEO, Matt Luscombe, a former senior executive with IHG, tasked with scaling the business and establishing Europe’s leading hospitality team.

With Hua Kee’s support, Cycas has been able to expand its business model to include co-investment, leases and other creative approaches to best meet the needs of our investment partners.

Accelerating Growth

Cycas began expanding rapidly, doubling in size by opening or taking-over 17 hotels in 15 months between 2020 and 2021.

Despite the challenges of the global pandemic, Cycas opened its first hotels in France, Germany and Belgium, and made its first signings in Switzerland and Denmark.

Landmark Partnerships

Cycas continued its rapid expansion, announcing a landmark partnership with InterGlobe Enterprises, one of India’s leading companies, to operate its portfolio of European hotels, including ten K+K properties and the iconic Reichshof Hotel in Hamburg. The partnership cemented Cycas’ pan-European credentials, expanding the company’s operations to more than six thousand rooms in twelve countries.

The takeover of the Bankside Hotel in Central London, a spectacular member of the Autograph Collection, further established Cycas’ credibility as a full-service management company, operating hotels ranging from select service to extended stay to boutique to luxury.

Strengthening presence in key European markets with nine hotels in the UK capital, Cycas welcomed the new Four Points Flex by Sheraton London Shoreditch East in December 2024.

Having opened Rotterdam’s first DoubleTree by Hilton under management. Cycas also secured their first hotel signings in Luxembourg and Ireland, and opened two hotels in France – Hyatt Place Rouen and Moxy Paris Clamart.

In 2024, Cycas strengthened their leadership team with key executive appointments, including Craig Patterson move to the organisation’s Chief Development Officer.