Takeover frenzy or controlled expansion?

Dear Insider,

Of course, today we are reporting in detail on the takeover of Fletcher, the largest Dutch hotel group, by Sunday PropTech – the new majority shareholders behind GCH (Grand City) – and not, as some believe, on Prism. Thanks to our more in-depth questions put to Prism India, we have new information as regards the structures of this company – we'll have further details in a few days. We are happy to give them this time.

Sunday PropTech is taking over a total of 170 hotels. How long will it take "the Indians" to integrate such a massive addition? Mario Maxeiner told me yesterday: It took IHG 1.5 years to integrate 100 Novum hotels. Some people feel a bit dizzy at the sight of the figure 170, as it is close to the 178 insolvent Revo Hotels. Could the current wave of over-ambitious takeovers trigger another wave of insolvencies? Some people feel a bit dizzy at the sight of the figure 170, as it is close to the 178 insolvent Revo Hotels.

Novum Hospitality recently made the headlines itself due to hotel closures, but it does not shy away from critical questions on the matter. In two articles today, founder and CEO David Etmenan explains to Susanne Stauss how he is setting up his new owner-operator model, why he works with family offices, and that he has a pipeline of 27 new projects comprising around 5,000 rooms. Half of his portfolio is set to consist of his own properties. Etmenan provides figures, reasons and insights – including on the responsibility towards the next generation.

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Hot and cold: Kempinski, Amedia, Revo, Assets, Tech and Snow

23.10.2026

Dear Insider,

Since Monday, members of the Kempinski supervisory board have been informing their staff, general managers and hotel owners, via conference calls and meetings, that CEO Barbara Muckermann is no longer with the company. As of our editorial deadline yesterday evening, there had still been no official statement. No comment is also a comment. It seems that neither the shareholders from Bahrain nor the members of the supervisory board have a plan. That reminds me of an old German saying: Ownership brings responsibility! This means that one has a great deal of responsibility towards partners and staff. I've jotted down a few more observations.

"No guarantee for guarantees" is the headline of our interview with Udo Chistée. In 2022, the Austrian hotelier sold his Amedia hotel group to what was then the HR Group (now Revo Hospitality). At the end of 2025, he filed for personal and business insolvency and is now liable for approximately €110 million. In an exclusive interview with hospitalityInside.com, the 78-year-old sets out his view of the background to the situation. Why he sees the partnership with Revo Hospitality as the catalyst, and why Revo Hospitality rejects this view. A story you simply must read.

Apart from this article, we have updated the list of new operators at the Revo Hotels taken over.