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our origins
2010
Our Origins
Cycas was founded by entrepreneurs, John Wagner and Eduard Elias, in 2008. By 2010, Cycas had opened its first hotel, the Staybridge Suites Liverpool.
A combination of the unique, ‘like-family’ service ethos of extended stay, together with heartfelt Liverpudlian warmth, helped established a culture within Cycas that remains cherished today.
2012
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.
2017
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.
2018
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.
2019
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.
2021
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.
2022
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.
2010
2012
2017
2018
2019
2021
2022
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Case studies
Construction
Conversion
Hotel Indigo Dundee
Refurbishment
it and ff&e
Located at walking distance from Dundee's high street and waterfront, this 102-bedroom hotel is part of a double-decker hotel with Staybridge Suites Dundee.
Hotel Indigo Dundee
Dundee, United Kingdom
The 102-room Hotel Indigo forms part of a double-decker hotel with Staybridge Suites Dundee, set within a refurbished linen mill.
Hotel Indigo includes a ground floor bar and restaurant and the central development is a short walk from the high street and waterfront, with the hotels offering panoramic views across the city.
