Sunday PropTech, the hospitality investment arm of Indian hospitality group Prism, is set to acquire Fletcher Hotels, the biggest hotel chain in the Netherlands, from independent investment company Egeria and Fletcher’s management.
Established in 1997, Fletcher has a portfolio of 170 hotels, overseeing a network of 130 owned and operated hotels plus 40 partner properties across the Netherlands, Belgium and Germany. Fletcher’s strategy includes offering affordable leisure stays at a mix of three- and four-star hotels in coastal, urban and rural locations.
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The hotel chain has sped up its expansion over the past decade through its buy-and-build strategy, completing around 60 acquisitions and growing its footprint outside of the Netherlands. Fletcher’s aggressive acquisition push dates back to 2016, when NIBC and Xead Group backed a management buyout. At the time, Fletcher operated 73 hotels, but this number had risen to 103 by 2021, when Egeria acquired a majority stake.
Under Egeria’s ownership and management, the hotel chain continued to grow.
“During this period, we have invested significantly in the organisation, real estate portfolio and technology platform, all with the aim of continuously enhancing the guest experience,” Mark Wetzels, senior partner at Egeria, said in a statement.
Rothschild & Co. served as adviser to Fletcher. Financial terms regarding the deal were undisclosed.
The Fletcher deal marks the second transaction by Sunday PropTech in the Netherlands in two months, coming hot on the heels of its purchase of a sizable stake in Sircle Collection, an Amsterdam-based group of design hotels, in line with the firm’s broader expansion into Europe.
Prism has been building its presence on the continent for several years and appears to be accelerating its expansion ahead of a planned initial public offering. Earlier this year, it opened three hotels in Germany, one under its vacation rental brand Belvilla, before opening its first Belgian hotel.
Prism is the parent company of budget hotel brand Oyo, which Ritesh Agarwal founded in 2012.
The company changed its name from Oravel Stays in September 2025 to reflect its broader portfolio, which includes Motel 6, Studio 6 and Sunday Hotels.
News of the transaction comes a week after the SoftBank-backed company nearly halved its planned IPO to 33.5 billion rupees ($355M). Prism has postponed its listing three times since first filing in 2021.
Sunday PropTech’s foray into the Netherlands comes as local and foreign investors remain cautious concerning Dutch hotels, with international capital becoming increasingly selective in the Netherlands due to other European markets offering better returns and tax conditions, according to Cushman & Wakefield.
Hotel investment volume reached €224M in the third quarter, down from €625M a year earlier, as buyers and sellers held back amid pricing uncertainty. Hotels were the only sector in which Dutch investment volumes did not grow during the first half of 2026, according to CBRE, with only six hotel deals secured during the time worth approximately €56M, down roughly 86% year-over-year, Colliers reported.
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