BNP Paribas Asset Management Alts acquires 5‑star campsite in France

BNP Paribas Asset Management Alts has acquired a new 5‑star outdoor hospitality site in Fréjus, France, strengthening its investment strategy in the sector and expanding the portfolio of Plein Air Property Fund 1 (PAPF1). 

Frejus campsite. Copyright: Interaview

The fund, launched in 2017, now comprises 31 high‑end campsites across France and Italy.

Located in the Var region near Mediterranean beaches and major Riviera attractions, the 10‑hectare estate offers more than 360 pitches, predominantly modern mobile homes. The site includes 75 premium units, 85 mobile homes with private spas and traditional bare pitches. Amenities include a large water park with lagoon and slides, a spa and balneotherapy area, games room, four children’s playgrounds and sports courts for padel, basketball and football.

Europe remains the world’s largest outdoor hospitality market, with around 28,500 campsites and more than 3 million pitches. France leads the sector with over 8,000 campsites and 147.6 million overnight stays recorded in 2025, up 15% on 2019. Italy ranks second in Europe and continues to show strong growth. PAPF1 has completed eight acquisitions in the past 12 months,six in France and two in Italy, totalling nearly €150 million and bringing assets under management to more than €580 million.

The fund will continue deploying capital across its two strategic markets, France and Italy, over the coming months.

Paul Darribere, Global Head of Healthcare and Hospitality at BNP Paribas Asset Management Alts, said: “Our growth strategy in the leisure and outdoor hospitality sector benefits from a favourable European market. The recent acquisition of the Fréjus site illustrates our ability to acquire high‑quality assets with long‑term growth potential while delivering performance for investors and honouring our ESG commitments.”