​​Indian business Prism, which is behind a growing portfolio of accommodation businesses including Oyo Rooms, has made a major acquisition in the Netherlands.

The group has bought Dutch group Fletcher Hotels, which lays claim to being the biggest hotel brand in the country. Fletcher has more than 110 hotels in the Netherlands, plus properties in Belgium and Germany adding up to 170 destinations. The Fletcher brand has grown substantially over the last decade, most recently under private equity ownership led by Dutch investor Egeria. Egeria bought a majority stake in the hotel group in 2021, when Fletcher management sold down their holdings.

Actively Acquiring European Accommodation Businesses

Prism made the acquisition via its ownership division, Sunday PropTech. This division has been actively buying in Europe over the last few months. In September, it bought a major stake in another Dutch group, boutique hotel business Sircle Collection, which operates distinctive hotels under the Sir brand.

Earlier in the summer, the group made a move in the UK, adding around 40 hotels. These will operate under the group’s existing Belvilla and Sunday brands, both considered premium hospitality brands.

Prism now owns a brand portfolio including Oyo, Sunday Hotels, Palette Hotels, Motel 6, Studio 6, and holiday rental brands Belvilla, DanCenter and Danland. From its base in India, the group has expanded with acquisitions in North America, as well as across Europe.

In addition to its standing portfolio, Fletcher has pipeline projects across the Netherlands. In the Utrecht region, it is preparing to launch the Fletcher Hotel and Restaurant Spakenburg, a 77 room property with views over the Eemmeer. And in Brielle, it is developing the 104 room Hotel & Residence Brielle, which will open in late 2027.

Prism remains a privately held group, led by entrepreneur Ritesh Agarwal, with some high profile backers including Softbank and Airbnb, as well as a slew of private equity groups who favour early stage businesses. Prism has previously tried to list on the Indian stock market, and hopes that it will finally complete the challenge, in the coming months.

Shifts Across the Dutch Market

The takeover of Fletcher Hotels follows hard on the heels of a transformational deal for Dutch group Townhouse Hotels, which is backed by European Hotel Capital. The company recently signed to switch six of its properties to the Series by Marriott brand, with two more hotels joining Marriott’s Tribute Portfolio. For Marriott, the agreement means its conversion-first brand Series launches at scale into the Dutch market.

In the USA, Prism made a bold move in late 2024, when it bought the Motel 6 budget hotel business for USD525 million. The deal covered more than 1,500 hotels all across the USA, and in Canada. With it came the much smaller Studio 6 extended stay brand, which Prism has subsequently grown. By deploying the tech of the much younger business, Prism has been able to substantially improve the performance of the Motel 6 chain, with bookings dramatically improved beneath a new technology stack.