A two-stage pressurizing refrigeration cycle is provide with a suction-side guiding portion in a part of a low-stage side suction pipe that leads from a bypass branch portion, at which a bypass pipe is branched, to a refrigerant suction side of a low-stage compressor. The suction-side guiding portion guides a lubricating oil from the refrigerant suction side of the low-stage side compressor to a side of the bypass branch portion. The suction-side guiding portion is located at a position in a vertical direction that is equal to or higher than apposition in the vertical direction of the bypass branch portion, and a part of the suction-side guiding portion on the refrigerant suction side of the low-stage side compressor is located at a higher position in the vertical direction than a part of the suction-side guiding portion on the side of the bypass branch portion.