Veriu’s acquisition of Punthill to see synergies across Sydney and Melbourne
The 13-strong portfolio includes eight suburban and four CBD apartment hotels in Melbourne plus one in Brisbane, offering 777 apartments in total across the group.
The hotels will continue to operate under the Punthill brand. Veriu directors Alex Thorpe and Rhys Williams said they will consider rebranding certain hotels under the Veriu brand in the next six to 12 months.
“The Punthill brand has a strong presence in Melbourne. Veriu is equally on the rise with two Sydney hotels currently in the top 10 of 181 hotels on TripAdvisor in Sydney,” said Thorpe.
“We will be considering what opportunities exist for both brands in Melbourne and Sydney but the important part is the best of both groups will be integrated for guests in both cities.
“The guests, both corporate and leisure, of the Punthill and Veriu Groups will now be able to move around 17 hotels in the largest gateway cities in Australia. This will expand to 21 hotels within the next 18 months with a new hotel in Melbourne and three new Veriu hotels in Sydney. Guests will be given all the benefits that both groups offer but in significantly more locations.”
Thorpe and Williams also see future potential for the Melbourne brand in Sydney as well as well as opportunities to move the Veriu brand into Melbourne within the next year.