(TAN): Radisson Hotel Group is collaborating with Cycas Hospitality, which will operate the Radisson Hotel & Suites Amsterdam South under a lease agreement with ECHO Partners, who recently acquired the aparthotel for its ECHO Fund.
Cycas Hospitality has signed a lease agreement with ECHO Partners to operate the all-suite property.
Opening in early 2021, the 227-suite Amsterdam aparthotel will become the first serviced apartments to operate under the Radisson brand in Western Europe. The new property brings the group’s portfolio in The Netherlands to six properties in operation and under development across its three brands Radisson Blu, Radisson and Park Inn by Radisson.
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Elie Younes, executive vice president and chief development officer, Radisson Hotel Group, said: “We are proud to launch our first extended stay product in Western Europe, marking our 54th serviced apartment in EMEA. As an asset class, ‘extended stay’ has been increasingly resilient and relevant in recent times. 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.”
Radisson Hotel & Suites Amsterdam South will feature studio, one-bed and two-bedroom apartments each with their own fully-equipped kitchen. Other facilities at the canal-front hotel include a gym, on-site bar and restaurant with outdoor terrace seating, plus underground parking for 70 cars.
Located in Amstelveen to the south of the city, the 10-storey hotel is within walking distance of the international companies that have their headquarters in Amsterdam’s booming district, such as KPMG, KLM and Canon. With convenient transport links to the Zuidas central business district (3km), city centre (6km) and Schiphol Airport (8km), the property is well placed to cater for the growing demand for extended-stay accommodation options in this part of the city.
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Asli Kutlucan, chief development officer at Cycas Hospitality, said: “We are excited to be opening our first hotel with Radisson Hotel Group and with ECHO Partners.”
Michael Regner at ECHO Partners, said: “This stand-out property in a gateway city represents our fourth hotel acquisition for our ECHO Fund in top locations and A-cities across Europe, and our first in The Netherlands. We are excited to establish a high-profile partnership with Cycas and Radisson, capitalising on both their international and local market expertise and creating value by entering into a long-term contract.”
