Ireland's Stephen Vernon acquires Staycity stake

Staycity Liverpool
Staycity opened an aparthotel in Liverpool’s Corn Exchange building in November. Photo credit: Staycity

Irish entrepreneur Stephen Vernon’s John Pollard Foundation has acquired a 5-percent share in Staycity, a privately held Dublin-based company that manages short- and long-term "aparthotels" across Europe.

The transaction was arranged by Investec Corporate Finance.
 
Vernon, co-founder of investment company Green REIT Plc, is joining the Staycity board as a non-executive director, but intends to take an active role by working with CEO and Co-Founder Tom Walsh and his team in achieving growth targets.

At 15 years old, Staycity has 7,000 apartments both open and in the pipeline across the Staycity Aparthotels and Wilde Aparthotels by Staycity brands. The company’s expanding estate now includes properties in Birmingham, England (249 apartments); Dublin (229); Edinburgh, Scotland (146); Liverpool, England (268); London Heathrow (269); London Greenwich (166); London Strand (106); Lyon, France (144); Manchester, England (182); Marseille, France (108); Paris (50); and York, England (197). 

Virtual Event

Hotel Optimization Part 3 | January 27, 2021

With 2020 behind us and widespread vaccine distribution on the horizon, the second half of the new year is looking up, but for Q1 (and most likely well into Q2) we’re very much still in the thick of what has undeniably been the lowest point of the pandemic. What can you be doing now to power through and set yourself up for a prosperous 2021 and beyond? Join us at Part 3 of Hotel Optimization – A Virtual Event on January 27 from 10am – 1:05pm ET for expert panels focused on getting you back to profitability.


The company is on target to achieve its stated goal of 15,000 aparthotels by 2023, and is slated to open new assets in Paris, Venice, Edinburgh, Berlin and Manchester this year. 
 
In a statement, Vernon called Staycity "a dynamic business with exciting growth plans to be the biggest pan-European aparthotel company," while Walsh said Vernon would help the company's ability to secure future sites for development.