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.