Event Hospitality & Entertainment has acquired 50 per cent of New Zealand pod-hotel group Jucy Snooze.
Jucy Snooze will be the first budget accommodation brand to join the Group, sitting alongside Event’s current stable of hotels and resorts across Australia and New Zealand that includes the Rydges, QT and Atura brands.
Launched in 2012, Jucy Snooze provides micro-accommodation in the form of capsule-style sleeping pods, along with shared, private, ensuite and family rooms.
Current Jucy Snooze locations include Christchurch, Queenstown and a new Auckland property due to open mid-2020.
Jucy CEO Tim Alpe said the deal is significant as it will allow the company to accelerate the expansion of the chain throughout New Zealand, Australia and beyond.
“The Event team brings significant experience in hotel development, operations, procurement, and food and beverage, as well as expertise to expand across Australia and beyond with their desire for growth,” Alpe said.
“Without this investment, our expansion would have been slower, but we now aim to expand the Jucy Snooze offering over the next five years to cater for the growing demand for this product offering. We have been wanting to move into the Australian market for some time; the locations of new hotels will be aligned with the distribution of our vehicle rental fleet, to provide a more seamless travel experience for the target market.”
Jane Hastings, CEO of Event, said they were excited to partner with Jucy Snooze and help drive its expansion, while opening up a new growth segment for the Event Group.
“This new partnership places Event at the forefront of the budget accommodation market segment, and together we will work closely to expand and grow the brand throughout Australasia and other parts of the world, utilising our expertise and relationships,” she said.