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Bain Capital has agreed to acquire the Pullman Montparnasse hotel in central Paris from property group Unibail-Rodamco-Westfield, in partnership with Columbia Threadneedle and QuinSpark Investment Partners for an undisclosed sum.
The deal, which was officially signed today (17 September), is among the largest hotel transactions in France and forms part of Bain Capital’s expansion in the European hospitality market.
The 32-storey, 957-room property was built in 1974 and underwent a €216m (£187.4m) refurbishment completed in 2021. The upgrade included modernisation of guest rooms, meeting facilities and technical systems. Located beside Gare Montparnasse in the 14th district, the hotel is one of the city’s largest and features conference space, restaurants, a sky bar and gym.
Columbia Threadneedle and QuinSpark will oversee asset management, with plans to launch further investment works aimed at reducing energy use and improving efficiency.
Rafael Coste Campos, partner at Bain Capital, said: “European hospitality is one of our high conviction themes, where we see long term secular demand tailwinds in acutely supply constrained markets. The current macro dislocation is creating a rare window of opportunity to acquire strategic assets in Europe’s main gateway cities.”
Marc-Olivier Assouline, head of European value-add at Columbia Threadneedle, described the acquisition as “a prime example of our Value-Add strategy in action, combining an iconic Parisian asset with significant potential for long-term value creation”.
The deal followed QuinSpark’s 2024 purchase of the Pullman Paris Tour Eiffel and would prioritise refurbishment work to meet new environmental requirements under the French Tertiary Decree.
