Cycas Appoints Matt Luscombe as Company’s First CEO

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Netherlands, Amsterdam. February 21, 2019

Cycas Hospitality has positioned itself for its next stage of growth with the appointment of Matt Luscombe as Chief Executive Officer. Matt is set to join the business in March, based from Cycas's head office in Amsterdam, where he will become the hotel management company's first CEO since it was co-founded in 2008 by Eduard Elias and John Wagner.

The appointment follows significant expansion for Cycas, having welcomed three new brands in 2018 and doubled its portfolio in the process. In the last year alone Cycas has expanded into Belgium, France, Germany and the Netherlands, and last autumn the fast-growing company announced six new senior hires to support its ambitious European growth plans to have 10,000 rooms across Europe by 2022.

Matt brings nearly 20 years of hospitality and consumer experience, including ten with InterContinental Hotels Group (IHG). During his IHG career, Matt held several senior leadership positions, most recently as Chief Commercial Officer for Europe where he was responsible for building the company's hotel and loyalty brands. Prior to that he spent five years heading up IHG's franchise business across Europe and Africa, working with Cycas Hospitality and leading the hospitality industry's first Olympic partnership by Cycas's dual-branded property in London Stratford City. He joins Cycas from Coles Group, one of Australia's leading retailers, where he was General Manager.

In his newly-created role, Matt will be responsible for steering Cycas through the next phase of its ambitious growth plans, which will see the business triple in size and boost its presence across Western Europe. He will work closely with the co-founders and Cycas's executive leadership team to further strengthen the company's operations across the UK and mainland Europe. Eduard Elias and John Wagner will both remain active in the company's strategic leadership through positions on its board, alongside Cycas investors Huakee.

Matt Luscombe, Chief Executive Officer of Cycas Hospitality, said: “Cycas is a true innovator in the hospitality sector and a business that over the last decade I've watched grow into a significant European hotel management company.

“While at IHG I always admired Cycas's deliberate focus on employees and company culture, and saw first-hand how its distinctive approach successfully translated into happy, loyal guests and delighted business partners. To join at such a pivotal moment in the company's inspirational journey is a privilege and, as CEO, I look forward to helping Cycas roll out its award-winning concept further.

Eduard Elias, Co-founder of Cycas Hospitality, said: “Cycas has come a long way since we pioneered the branded extended-stay concept in the UK in 2008 and opened London's first double-decker hotel in 2012. This is an exciting time for us and the right opportunity to enhance the way Cycas operates.

“With an expanded team in place, unrivalled partnerships with some of the world's most successful hotel groups and our first CEO at the helm, we look forward to Cycas Hospitality achieving even more record results over the coming years.”

John Wagner, Co-founder of Cycas Hospitality, said: “Matt is no stranger to Cycas, having worked closely with us throughout his time at IHG. Critically, we know that he is a great culture fit for the business, sharing our values, passion and belief that hospitality success is underpinned by distinctive and memorable service.

“Our goal at Cycas has always been to make our hotels the best places to work as well as stay. We're therefore confident that appointing Matt to lead the company will ensure Cycas is in the best possible position to drive our next phase of growth and are delighted to welcome him to our team.”

Matt will take over his new role from 1 March 2019 and will also be attending the International Hotel Investment Forum (IHIF) in Berlin from 4-6 March on Cycas Hospitality's behalf.