The next two years are shaping up to be big ones for The Veriu Group, as Australia’s leading innovator in the apartment hotel and micro-apartment space announces the launch of four new Victorian properties.
Two new apartment hotels – Punthill Essendon North scheduled and Punthill Geelong, set to open in August 2022 and May 2024 respectively, will round out the Group’s current collection of Punthill Apartment properties to 13. Also on the horizon are the Group’s first 2 Victorian Veriu Hotels – Veriu Collingwood and Veriu Queen Victoria Market, which are both expected to open later this year.
Collectively, they mark the start of what will be a significant period of expansion for The Veriu Group, with construction of a further 5 properties expected to commence in the second half of 2022. This will ultimately boost the Group’s overall portfolio to almost 1,320 rooms and apartments operating or in development across 20 sites under the combined Veriu Hotels & Suites and Punthill Apartment Hotels brands.
Commenting on the announcements, Veriu Group CEO Zed Sanjana says, “We’re delighted to be adding the new properties to our existing apartment hotels portfolio. Each one is specifically situated to take advantage of substantial key catchment areas, which are currently relatively underserviced in terms of quality corporate accommodation. Like all properties in our Group, they are ideally positioned to be able to provide both corporate and leisure guests with premium accommodation in vibrant and convenient locations”.
The Group’s first Victorian property to open under its successful Veriu Apartment Hotel brand, the 110-room Veriu Queen Victoria Market will be located directly adjacent to Melbourne’s iconic Queen Victoria Market, while the 95-room Veriu Collingwood will bring a little New York Soho inspired architecture to Collingwood, one of the inner city’s most popular locales. The latest Punthill Apartment property, the 40-apartment Punthill Essendon North, offers a mix of studio and one-bedroom apartments, and is well positioned to service the corporate catchment area of Melbourne’s North-western suburbs as well as business travellers commuting from Melbourne Airport.
The Group’s first regional offering, the 15-level Punthill Geelong will be conveniently located close to Geelong’s city centre. Featuring 80 studio apartments, designed to accommodate solo and group business travellers alike, it will also include conference rooms and meeting facilities, providing the ease and accessibility of the office in addition to the comforts of home. The property is expected to appeal to those commuting to and from Melbourne, with Deakin University’s Waterfront Campus, TAC, CSIRO and the Westfield Geelong Shopping Centre all located nearby.
The Veriu Group is expected to grow by an additional 10 properties by 2025, partnering with top tier developers and local businesses along the way.
“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. With that comes the prospect of increased business for the local communities in which we operate, and we look forward to working with both local government and commercial stakeholders to effectively implement this infrastructure,” said Sanjana.
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About Veriu Group – Veriu Hotels & Suites and Punthill Apartment Hotels
The Veriu Group (and its related entities) have owned, operated and managed hotels in the Australian market for over 30 years. The Veriu Group is comprised of 1,318 rooms and apartments across 20 sites either operating or under development across both the Veriu Hotels & Suites (588 rooms) and Punthill Apartment Hotels (730 apartments) brands. The Veriu brand was founded in 2016 as an entry into the boutique hotel accommodation space, with an emphasis on creating individual and unique accommodation experiences. There are currently five Sydney based locations under the brand, with Veriu Broadway, Veriu Camperdown, Veriu Randwick, Veriu Green Square and Veriu Central, with further hotels in the pipeline. In 2018, the Group announced the acquisition of thirteen hotel businesses under the 30-year-old Melbourne-based Punthill Apartment Hotel Group brand, with operations in both Melbourne and Brisbane in strong corporate locations.
With a highly efficient and dependable business model for operations, revenue management, distribution and sales and marketing, the business demonstrates experience in maintaining above market performance in Sydney, Melbourne and Brisbane and is primed for future growth with a strong pipeline of development opportunities across the country.
The core customer of the Veriu Group is the short and long stay corporate traveller. Whilst leisure, wholesale, inbound, MICE and Frequent Independent Traveller make up an important share of Veriu’s business mix, its main focus is on the needs of its corporate clients. The Veriu Group leverages its direct relationships with its corporate clients (both national and local) and their travel management companies to drive higher average lengths of stay and higher business mix of clientele than its competitors. The Group has established long term relationships with a large network of international and local booking partners as well as a strong online presence.