Prism secures 10 Sonder properties for US debut of Belvilla

Prism, formerly Oravel Stays, has acquired 10 former Sonder properties through a bankruptcy court process to launch its European apart-hotel brand Belvilla in the U.S. The properties, located in New York City, Seattle, New Orleans, Denver, Philadelphia, Phoenix, and Austin, Texas, will be converted under the Belvilla brand, marking its first operational presence outside Europe. This strategic acquisition allows Prism to expand its global portfolio and capitalize on the U.S. market opportunity for apart-hotel accommodations.

Counterparts (2)

Seller

Sonder

company

Sonder is a technology-enabled hospitality company that designs and manages a variety of accommodations, from hotel rooms to apartments, offering a consistent and modern guest experience. While primarily focused on real estate and hospitality operations, their model involves significant property development, technology integration, and urban presence, which can have tangential links to social and digital infrastructure.

Buyer

P

Prism

company

Prism Infrastructure Fund is a SEBI-registered Category I AIF focused on investing in infrastructure projects in India. The fund targets renewable energy assets, particularly solar power, and aims to support the development and operation of critical infrastructure within the country through its portfolio companies.