EXTENDAM Finalizes the Sale of ibis Paris Tour Montparnasse
EXTENDAM announces the sale of the ibis Paris Tour Montparnasse, a 3-star hotel with 45 rooms located in Paris’s 15th arrondissement. This transaction continues a longstanding partnership with Ker Hospitality, the hotel’s historic operator.
A Strategic and High-Performing Asset
Situated in the vibrant Montparnasse district, the hotel enjoys a sought-after location near Gare Montparnasse, France’s fourth busiest train station. The area blends commercial, residential, cultural, and office uses, attracting a mixed clientele of business travelers during the week and leisure visitors on weekends. Its central location and accessibility are key draws.
Operated under the ibis brand, a leader in Europe’s urban economy segment and part of the Accor Group, the hotel benefits from a strong operating model, recognized traveler loyalty, and efficient standardization, which has helped maintain solid and sustainable performance.
Confirmed Value Creation
Since its acquisition in 2019, the hotel underwent a full renovation of rooms, common areas, and street-facing windows, all completed while keeping the hotel open. These upgrades aligned the property with current ibis standards and ensured smooth, profitable operations.
Despite the pandemic in 2020, the hotel showed resilience, remaining open throughout, benefiting from its prime location. Occupancy remained above 25% during the strict lockdown months of April and May and rebounded above 50% by June, with average daily rates returning above €100.
EXTENDAM’s strategy maximized the asset’s operational performance and strengthened its market positioning. The sale, conducted under favorable market conditions, achieved an internal rate of return (IRR) exceeding 10%, meeting investment team expectations.
“This sale highlights our ability to identify high-potential assets, support their upgrade, and secure strong performance, creating shared value with our partners. This new deal reflects the strength of our partnership with Ker Hospitality and our shared vision of resilient, well-positioned hotel operations,” said Inès Haack and Caroline Betemps for EXTENDAM.
