Sunday Proptech acquires Fletcher Hotels from Egeria

Sunday Proptech has agreed to acquire all shares in Fletcher Hotels from the private equity firm Egeria and the hotel group's management. The transaction is subject to customary closing conditions.

Fletcher Hotels operates 130 own hotels and 40 partner hotels in the Netherlands, Belgium and Germany, employing about 5,800 people. The group was founded in 1997 and has expanded through acquisitions over the past decade.

Sunday Proptech, part of India's Prism Group, said it aims to expand its European hotel investment and asset management activities with the acquisition. A company spokesperson said Fletcher has built a strong business and recognised brand in the Netherlands.