Irish property veteran Stephen Vernon has taken a 5% stake in ASAP Member aparthotel group Staycity, and will join the board as a non-executive director.

The Staycity group is aiming to grow its apartment portfolio to 15,000 and turnover to €500 million within five years. It recently opened its fourth property in Dublin and has plans this year to open properties in Paris, Venice, Edinburgh, Berlin and Manchester.

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