Bain Capital, in partnership with Columbia Threadneedle and QuinSpark Investment Partners, is acquring the Pullman Montparnasse hotel in Paris from Unibail-Rodamco-Westfield.
Built in 1974, the four-star, 957-key hotel spans 32 floors and is adjacent to Gare Montparnasse in the 14th district of the French capital.
Asset management will be overseen by Columbia Threadneedle and QuinSpark.
The Montparnasse has already undergone a comprehensive refurbishment which completed in 2021, with over €216m invested to modernise its facilities, including extensive upgrades to guest rooms, common areas and technical infrastructure.
The partners plan to implement a capex programme to optimise operating costs and improve energy performance.
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.
“Pullman 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 realise its full potential.”
Marc-Olivier Assouline, head of European value-add at Columbia Threadneedle, said: “The acquisition of the Pullman 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 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.”
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