Hospitality ownership, investment, and asset management company Sunday PropTech has agreed to acquire a 100% stake in Netherlands-based Fletcher Hotels.
According to a statement, the company will acquire the hotel chain from Egeria and Fletcher management. The transaction's financial details remain undisclosed.
Fletcher Hotels was founded in 1997 and operates 170 hotels, as well as employs 5,800 people.
Its network includes 130 Fletcher-owned and 40 partner hotels across the Netherlands, Belgium and Germany. The portfolio primarily includes three-star and four-star properties in coastal, rural and urban locations.
The statement added that Fletcher expanded via a “buy-and-build strategy” over the past decade, completing around 60 add-on acquisitions.
Sunday PropTech said the Fletcher Hotels acquisition supports its expansion in the European hospitality market. The company plans to work with Fletcher’s management team and invest in the business via asset management, technology, and brand capabilities.
A Sunday PropTech spokesperson said: “We are pleased to welcome Fletcher as we expand our hospitality investment and asset management presence in Europe.
“Fletcher has built a strong business and a well-recognised brand in the Netherlands. We look forward to working with its management team to support the next phase of growth.”
Rothschild & Co acted as adviser to Fletcher on the transaction. The completion of the deal remains subject to customary closing conditions.
Egeria senior partner Mark Wetzels said: “It has been a privilege to work alongside the management team of Fletcher over the past years. Together, we have further strengthened Fletcher’s leading position in the Netherlands while expanding its international footprint through a growing international presence.
“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. With this strong foundation in place, I believe Sunday PropTech and its shareholders are the ideal partners to support Fletcher in its next phase of growth.”
