Cycas Hospitality is set to operate a dual-branded Intercontinental Hotels Group (IHG) property in Dundee after signing a management agreement with Percor Capital.
The property contains a 102-room Hotel Indigo and an 85-room Staybridge Suites and occupies a refurbished linen mill with a bar and restaurant on the ground floor.
Following the deal, Cycas now operates six of the hotel group’s eight Staybridge Suites properties in the UK and a total of nine IHG-branded hotels.
The agreement is part of Cycas’s European expansion, with 13 signings across the continent over the last 12 months. Earlier this year, the company appointed its first CEO to lead its growth strategy.
Wayne Androliakos, COO of Cycas Hospitality, said: “Having helped IHG develop its dual-branded proposition in Europe in time for the London 2012 Olympics, we’re delighted to welcome our fourth IHG brand and our first two hotels with Percor Capital into the Cycas family.”
Jean-Pierre Permutt, director at Percor Capital, added: “With TIME Magazine having recently declared Dundee as one of their ‘World’s Greatest Places for 2019’, our Hotel Indigo having been named the best hotel in Scotland by the Sunday Times, and the V&A Dundee significantly exceeding visitor numbers since opening last September, there’s no doubt that the city is riding a wave. By working closely with Cycas Hospitality we hope to fully capitalise on the city’s fast-expanding leisure and business travel opportunities.”