Veriu has announced plans to launch the boutique hotel brand in Melbourne, starting with a new-build hotel at Queen Victoria Market.

Slated to open in late 2022, the hotel is the first three Veriu-branded properties planned for Melbourne, inclduing a new 95-key neighbourhood hotel in Collingwood.

The brand’s Melbourne expansion follows Veriu’s purchase of the Punthill Apartment Group in 2018.

Veriu CEO Zed Sanjana said the network roll-out aims to create more interesting accommodation experiences for travellers.

“Veriu are a bespoke collection of hotels, each unique, all designed to connect our guests with the true character of the local neighbourhoods they inhabit,” he said.

“Veriu Queen Victoria Market will be a great example of this.”

In New South Wales, Veriu will open a 144-key apartment hotel in Green Square this July, joining existing properties in Broadway and Camperdown.

The group is also set to divest its Sydney Central property, giving the new owners the opportunity to lease the hotel back to Veriu on a long-term basis.

”Veriu’s sale of Veriu Central will enable us to free up capital to invest in our national expansion plans for both Punthill and Veriu over the course of the next five years,” said Sanjana.

“We have plans to focus on new-build hotel leasing opportunities in CBD, suburban and regional markets across Australia under both our Punthill and Veriu brands. It will also enable Veriu to focus on delivering its two development sites at 323 George St Sydney and 822 George St, Chippendale.”

Sanjana confirmed Veriu has further 10 sites in the pipeline across Sydney, Perth and Adelaide.

“We are currently targeting to open between 20-30 hotels under the Veriu brand over the next 10 years with a focus on interesting neighbourhoods that meet our brands criteria,” he said.