Bain Capital & partners have signed a definitive agreement to acquire Pullman Paris Montparnasse from Unibail-Rodamco-Westfield, a leading European retail REIT.
Built in 1974, the 4-star, 957-key hotel spans 32 floors and is adjacent to Gare Montparnasse in the affluent 14th district.
The Pullman Paris Montparnasse has already undergone a comprehensive refurbishment which completed in 2021, with over €216 million invested to modernize its facilities, including extensive upgrades to guest rooms, common areas and technical infrastructure.
Among the city’s largest and most contemporary hotels, Pullman Paris Montparnasse features spacious rooms ranging from 22 to 60 square meters, 10 percent larger than the local competitive set. The hotel offers outstanding connectivity to key city landmarks, catering perfectly to both international and domestic travelers.
Standout amenities include 4,520 square meters of state-of-the-art meeting, conference, and exhibition facilities with natural daylight; two restaurants, a sky bar, a fully equipped gym; and the potential to add a 500-square-meter spa.
Asset management will be overseen by Columbia Threadneedle and QuinSpark, a leading hospitality operating partner with deep experience in the Parisian market. Plans include the implementation of a targeted capex program to optimize operating costs and improve energy performance, delivered by a team of seasoned professionals with direct experience operating Pullman properties to ensure a seamless transition and continued operational excellence.
The investment, one of the largest of its kind in France, marks a significant milestone in Bain Capital’s expansion into the European hospitality market and underscores the firm’s commitment to acquiring high-quality assets in prime locations.
Rafael Coste Campos, a Partner on Bain Capital's Special Situations team, commented: “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. Pullman Paris Montparnasse is an uncommon opportunity to acquire a newly refurbished, institutional-grade 957-key hotel in Paris, one of the most attractive hospitality markets globally. We look forward to working with Columbia Threadneedle and QuinSpark to unlock further value and realize its full potential.”
Marc-Olivier Assouline, Head of European Value-Add at Columbia Threadneedle, said: “The acquisition of the Pullman Paris Montparnasse is a prime example of our Value-Add strategy in action, combining an iconic Parisian asset with significant potential for long-term value creation. This transaction also highlights our ability to source and structure complex off-market opportunities, and deploy our European capabilities alongside trusted partners. Together with Bain Capital and QuinSpark, we will bring a creative approach to further enhance this landmark hotel, strengthening its operational performance and delivering sustainable returns for our investors.”
Frédéric de Brem, Director at QuinSpark, added: “The acquisition of the Pullman Paris Montparnasse marks a significant milestone for QuinSpark Investment Partners, the result of extensive underwriting and structuring efforts that led to the establishment of a strategic equity and operational partnership with Bain Capital and Columbia Threadneedle. This transaction follows the 2024 acquisition of another landmark Parisian property, the Pullman Paris Tour Eiffel, further reinforcing our collaboration with Accor’s operational teams. We will place a particular focus on implementing the essential refurbishment works required to achieve the objectives of the French Tertiary Decree.”
The purchaser was advised in this transaction by Oudot Notaries (notarial matters), CMS Francis Lefebvre (legal and tax), Clifford Chance (financing), Mazars (financial), PwC (structuring), and Etyo (technical and environmental).
