How to "repair" a bedspread?

You could make a few patch work squares. Maybe use a button hole type stitch to sew them on. Randomly place a few more on the blanket where there are not holes to get a pattern you like. You could use contrasting material or a pattern that picks up colors from the blanket.

You can buy another one at a thrift store like Goodwill less than $10.

Great idea Mikranpitz! I would make a throw pillow or two for the bed from the same fabric you patch with! Good luck!

You could do a type of applique with an accenting color on the top of the bedspread. I would go ahead and add additional appliques spaced out over the entire bedspread instead of just covering a few spots. I would find the same color fabric for the backside in order to sandwich the hole.

+You can cover your present spread with a duvet cover.. They are pretty and fairly inexpensive. You can also make one from two flat sheets sewn together.

I don't know what your sewing skills or the pattern of the bedspread. You could purchase a contrasting color and cut out small squares. sew those on the spread randomly across the entire area in a patchwork pattern.

I would go to a thrift type store and look for the coaster size dollies and use those to cover the holes and add additional ones to balance out the comforter.

You could sew a pretty sheet to the top of the spread. I would stitch it in rows or quilt it in a pattern to make it fit smoothly.

Thank you everyone for such good ideas. I really like the idea to use dollies.