UK: Cycas Hospitality has signed a deal to operate two Mercure hotels and one Hotel Indigo property from London Town Group.
The agreement will see Cycas expand its footprint to eight hotels in London, taking the group’s total hotel count to 18 in the UK.
Cycas will welcome the first two Mercure-branded hotels to its portfolio: Mercure London Hyde Park and Mercure London Paddington. The former has recently completed a multi-million pound refurbishment whereas the latter is scheduled to start a full renovation programme next year.
The 64-room Hotel Indigo London Paddington marks the first Indigo-branded hotel in London. It will become Cycas’ seventh hotel under IHG and the second in the UK, joining the group’s Hotel Indigo Dundee.
Tanja Furby has been named cluster general manager for the three London hotels.
Koolesh Shah, founder of London Town Group, said: “As our business diversifies and grows, I felt now was the time to bring on board a recognised industry leader in hotel operations to partner on the transformation journey of our hotels. We’ve always prided ourselves on our collection of leading branded-boutique hotels, and we’re confident that Cycas’s track-record in delivering the highest hospitality standards will ensure we can continue to give our guests the best possible experience.”
Matt Luscombe, CEO at Cycas Hospitality, added: “I’ve known and admired Koolesh and his team for many years, since he opened the first Hotel Indigo outside of North America in 2009. Over the last decade, London Town Group has been synonymous with commercial and operational excellence. With their central locations and exceptional transport links, these three hotels are ideally positioned to capitalise on the recovery in business and leisure travel. We’re proud and excited to begin this partnership together.”
Cycas Hospitality operates across both the extended-stay and mainstream hospitality sectors. The group plans to double its multi-brand hotel portfolio across the UK and mainland Europe over the next two years.
In the last 12 months, Cycas has opened or taken over 17 hotels.
London Town Group is a real estate investment company in hotels, commercial and residential units throughout the UK and Sub-Saharan Africa, with assets in access of £300 million.