Netherlands-based hotel management company Cycas Hospitality has signed a lease agreement with Echo Partners to operate its first Radisson-branded property; the Radisson Hotel & Suites Amsterdam South.
When it opens in early 2021, the 227-suite Amsterdam aparthotel –which was recently acquired for the Echo Fund– will become the first all-suite extended-stay property to operate under the Radisson brand in Western Europe, and will be Radisson’s 54th serviced apartment in the Europe, Middle East and Africa region. The property will also be Cycas’ fourth hotel acquisition for the Echo Fund and its first in The Netherlands, as well as Cycas’ fifth property across the Belgium, Netherlands and Luxembourg region and its third in Amsterdam.
Each of the studio, one-bed and two-bed apartments has its own fully equipped kitchen. Other facilities at the canal-front hotel include a gym, on-site bar and restaurant with outdoor terrace seating as well as underground parking for 70 cars.
“We are excited to be opening our first hotel with Radisson Hotel Group and with Echo Partners,” Asli Kutlucan, chief development officer at Cycas Hospitality, said. “It says a great deal for the calibre of these organisations that we were able to negotiate a key signing during the COVID-19 ‘lock-down.’”
“As an asset class, extended-stay has been increasingly resilient and relevant in recent times,” Elie Younes, EVP & chief development officer, Radisson Hotel Group, said. “We are delighted to be partnering with Cycas Hospitality in such a key European market as Amsterdam and look forward to welcoming our first guests together in early 2021.”
Located in Amstelveen to the south of the city, the 10-story hotel is within walking distance of Amsterdam’s business district.