Sunday PropTech acquires 8 premium hotels

OYO parent PRISM-backed Sunday PropTech has acquired a portfolio of eight premium hotels, according to people aware of the development. The value of the acquisition was not immediately known. However, the combined value of the eight hotels is about Rs 800 crore, they shared. The acquired assets will be operated under PRISM's brand ecosystem, including Sunday Hotels, Belvilla and other suitable brands. The acquisition was funded through a mix of debt and equity instruments, those aware of the development told PTI, adding that the company continues to evaluate additional acquisition opportunities as part of its growth roadmap. Sunday PropTech, also known as OYO Assets, is focused on acquiring and developing hotels in India across premium and mid-premium segments.