Sunday PropTech, the hospitality investment arm of the Indian group Prism, will acquire Fletcher Hotels - the largest hotel chain in the Netherlands. The sellers are the independent investment company Edgeria and Fletcher's management.
Founded in 1997, the chain has a portfolio of 170 hotels. 130 of them are owned and managed by Fletcher, and the remaining 40 are partner properties. The network covers the Netherlands, Belgium and Germany, offering stays in three- and four-star hotels on the coast, in cities and in rural areas.
Expansion through acquisitions
The company's growth over the past decade has been linked to the “buy and build” model. Fletcher has made around 60 acquisitions, with which it has increased its presence outside the Netherlands. In 2016, the chain had 73 hotels, and by 2021, the number had grown to 103. At that time, Edgeria acquired a majority stake in the company.
“During this period, we have invested significantly in the organization, property portfolio and technology platform, with the aim of continuously improving the guest experience,“ said Mark Wetzels, senior partner at Edgeria. Rothschild advised Fletcher on the deal.
Second deal in the Netherlands in two months
The Fletcher acquisition is Sunday PropTech’s second deal in the Netherlands in the past two months. The company previously acquired a significant stake in Amsterdam-based designer hotel group Circle Collection. The move is part of Prism’s broader expansion in Europe.
Earlier this year, the group opened three hotels in Germany, including a property under the holiday home brand Belvilla, as well as its first hotel in Belgium. Prism is the parent company of budget hotel brand Oyo, founded by Ritesh Agarwal in 2012. In September 2025, the company changed its name from Oravel Stays to reflect its broader portfolio, which also includes Motel 6, Studio 6 and Sunday Hotels.
Hotel market remains cautious
The deal comes a week after the SoftBank-backed company nearly halved its planned initial public offering to 33.5 billion rupees, or about $355 million. The listing has been delayed three times since its initial filing in 2021.
Sunday PropTech’s expansion comes in a cautious Dutch hotel market. According to data cited by “Bisnow“, investments in hotels reached EUR 224 million in the third quarter, compared to EUR 625 million a year earlier. In the first half of 2026, six hotel deals worth around EUR 56 million were concluded - approximately 86% less than in the same period of the previous year.
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