The Veriu Group is gearing up to launch another four properties in the coming 24 months.
The announcements cap off a big year for the Group, which has seen its portfolio expand significantly thanks to the acquisition of 13 hotels under the Punthill Apartment Hotels brand.
The roll out of the four new additions, Punthill Essendon North, Punthill Caroline Springs, Punthill Oakleigh Central and Punthill West Gosford, is scheduled to start early 2021.
Together, they will increase the Group’s Punthill Apartment Hotels collection to 18, and boost the Veriu Group’s overall portfolio to over 1700 rooms and apartments operating or in development across 25 sites under the combined Veriu Hotels & Suites and Punthill Apartment Hotels brands.
“We’re really excited to be adding four new properties to our existing apartment hotels portfolio, each specifically situated to take advantage of their surrounding key corporate catchment areas,” said Veriu Group CEO Zed Sanjana.
“The Australian accommodation market has been consistently undersupplied for a number of years, particularly in terms of upscale and design-driven apartment hotels in key corporate locations. We believe that business travellers are increasingly looking for more unique and localised accommodation experiences within these corporate hubs.
“Our network expansion is focused on bringing more unique and interesting accommodation options to CBD, suburban and regional markets, in locations underpinned by the business travel segment, supported by business and industrial parks, universities, hospitals and major infrastructure projects.”
The 40-apartment Punthill Essendon North will be built in partnership with EVR Group and will offer a mix of studio and one-bedroom apartments.
Built in partnership with Geopec Pty Ltd, the 80-apartment Punthill Caroline Springs will offer guests a mix of studio, one-bedroom and two-bedroom apartments. The hotel will also feature conference and meeting facilities.
The 55-apartment Punthill Oakleigh Central will comprise a mix of fully-furnished studio, one and two-bedroom apartments, all including fully-equipped kitchens, along with an on-site gym, conference room and other amenities.
In NSW, Punthill West Gosford will comprise 60 apartments, including studio, one-bedroom and two-bedroom apartments and is expected to open within 24 months.
The Veriu Group is expected to grow by an additional 50 properties by 2025.
“We see a huge opportunity to become one of Australia’s largest niche hotel operators, while still maintaining a unique and localised feel at each of our properties,” said Sanjana.