Bain Capital and partners check into Pullman Montparnasse

Bain Capital, in collaboration with Columbia Threadneedle and QuinSpark Investment Partners, has finalized an agreement to purchase the Pullman Montparnasse hotel in central Paris from Unibail-Rodamco-Westfield.

Pullman Montparnasse

The Pullman Montparnasse, constructed in 1974, is a four-star hotel with 957 rooms across 32 floors, located next to Gare Montparnasse in the upscale 14th district. The hotel completed a €216 mln renovation in 2021, modernizing its rooms, common areas, and infrastructure.
It is one of Paris's largest and most modern hotels, offering spacious rooms (22 to 60 m2), which are 10% larger than competitors. The hotel is well-connected to major city attractions, making it ideal for both international and domestic guests.
Key features include 4,520 m2 of meeting and event spaces with natural light, two restaurants, a sky bar, a gym, and the possibility of adding a 500 m2 spa.
Columbia Threadneedle and QuinSpark will manage the asset, focusing on a capital expenditure program to reduce operating costs and improve energy efficiency. This investment represents a significant step for Bain Capital into the European hospitality market, highlighting its strategy to acquire premium properties in prime locations.
Rafael Coste Campos, a partner at Bain Capital, 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 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 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.”
The buyer was advised by Oudot Notaries, CMS Francis Lefebvre, Clifford Chance, Mazars, PwC, and Etyo.