Bain Capital has invested in French boutique hotel group Les Hôtels de Paris as part of a €135m ($158.9m) refinancing, reinforcing its expansion strategy in Europe’s hospitality sector.

The investment, structured as super senior bonds, forms part of a restructuring plan for Les Hôtels de Paris approved by the Paris Commercial Court in July 2025. The plan combines reorganisation measures with selective asset disposals to reduce liabilities and provide growth capital.

Les Hôtels de Paris, part of the Machefert Group and listed on Euronext Paris, operates 18 hotels, including 17 in central Paris and one in St Tropez. The investment comes shortly after Bain announced the acquisition of the Pullman Paris Montparnasse Hotel.

Rafael Coste Campos, Partner at Bain Capital, said: “This investment is a natural extension of our hospitality strategy, reflecting our strong conviction in the enduring fundamentals of the European market and our ability to foster operational improvements and sustainable growth. We look forward to partnering with the talented Les Hôtels de Paris team.”

Kevin Machefert, CEO of Les Hôtels de Paris, added: “Partnering with Bain Capital marks an exciting new chapter for Les Hôtels de Paris. With their support and expertise, we are optimistic about the future and confident in our ability to accelerate growth, reinforce our position in the French hospitality market and become the leading independent experiential and boutique hospitality player in the region.”

Advisers on the transaction included Wingate Investment Bank, with White & Case providing legal advice, PwC financial and tax advisory, and HPM and CBRE offering technical and commercial support.

The deal strengthens Bain Capital’s footprint in France and underlines private equity’s role in driving consolidation and growth in the European hospitality sector.

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