Veriu, a Sydney-based network of bespoke hotels and suites, has announced the acquisition of 13 hotels under the Melbourne-based Punthill Apartment Hotel Group brand.

The takeover will see Veriu expand into new territories outside of Sydney, with a portfolio that will now include eight suburban and four CBD apartment hotels in Melbourne and one property in Brisbane.

Veriu directors Alex Thorpe and Rhys Williams said they would consider rebranding certain hotels under the Veriu brand in the next six to 12 months.

Thorpe said: “The Punthill founders started on a similar journey to ours some 30 years ago.  Their entrepreneurial spirit and hard work have created an incredible portfolio of hotels with a talented team of passionate people.  We see a lot of similarities between Veriu and Punthill with their well-located suburban and city fringe hotels, where guests are encouraged to explore the local areas away from the well-worn tourist haunts.

“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 3 new Veriu hotels in Sydney. Guests will be given all the benefits that both groups offer but in significantly more locations,” he said.