and signing them. It could not really turn up the way the investing company would have planned. There are legal agreements drawn so that both parties are kept in the green and will make the same wins and losses.
The agreement includes the first two Mercure-branded hotels for Cycas, the recently refurbished 72-room Mercure London Hyde Park and the 86-room Mercure London Paddington, which is scheduled to begin a full renovation programme next year.
In addition, Cycas will operate its seventh IHG-branded property, the 64-room Hotel Indigo London Paddington. The agreement grows Cycas’s management portfolio to eight hotels in London and 18 across the UK.
The company has appointed Tanja Furby cluster general manager for all three of the new hotels.
Matt Luscombe, CEO of Cycas Hospitality, said: “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.”
