Sunday PropTech, the hospitality investment segment of Indian group Prism, completed the acquisition of Fletcher Hotels, the largest hotel chain in the Netherlands, on October 26, 2026. Fletcher operates 170 hotels, comprising 130 owned and operated properties plus 40 partner hotels across the Netherlands, Belgium, and Germany.
Fletcher Hotels’ Expansion and Ownership History
Fletcher Hotels accelerated growth through a buy-and-build strategy, increasing its portfolio from 73 hotels in 2016 to 103 hotels by 2021. This expansion outside the Netherlands included approximately 60 acquisitions. The 2016 management buyout that enabled this growth was backed by financial firms NIBC and Xead Group. In 2021, Egeria acquired a majority
stake and supported further investments in the organization, real estate, and technology aimed at improving guest experience, according to senior partner Mark Wetzels.
Prism’s Broader European Expansion
Prism, previously known as Oravel Stays until a name change in September 2025, owns multiple hotel brands including Oyo, Motel 6, Studio 6, and Sunday Hotels. The acquisition of Fletcher Hotels is Sunday PropTech’s second in the Netherlands within two months, following its purchase of a substantial share in Amsterdam-based design hotel group Sircle Collection. Prism has also introduced new hotels in Germany and Belgium recently as part of its Europe-focused growth ahead of a planned IPO.
Dutch Hotel Investment Market and Financial Context
Hotel investments in the Netherlands declined sharply in 2026 amid pricing uncertainties, with €224 million in hotel transactions recorded in Q3 of 2026 compared to €625 million in the same period a year earlier. Only six hotel deals were closed in the first half of 2026, valuing about €56 million, marking an 86% year-over-year drop. International investors are showing selectivity toward Dutch hotels due to more attractive conditions in other European markets. Rothschild & Co. advised Fletcher Hotels on the acquisition. Prism has postponed its IPO multiple times since 2021 and recently reduced its projected valuation to 33.5 billion rupees
($355 million). Financial terms of the Fletcher acquisition were not disclosed.
