Sunday PropTech’s European Hotel Bet Has an Unexpected Profit Engine

AI Summary

Sunday PropTech is acquiring Fletcher, an established European hotel operator with a history of acquisitions. Fletcher’s financials show that government accommodation provides most of its profits, while earnings are falling and borrowing costs are rising.

Sunday PropTech is buying an established European hotel operator with a long record of acquisitions. But Fletcher’s financials reveal that most of its profits come from government accommodation, even as earnings fall and borrowing costs rise.