When teacher Susanne Fischer came to Wiesbaden for personal reasons, she missed a stage here that could be used regularly for independent theater and cabaret, as had long been a matter of course in other cities. Together with the theater-experienced composer Wilfried Weber, the restaurateur Renate Stiller and others, she set about founding such a company herself on an association basis. They did not find premises for it in former factories or villas, but in the historic Pariser Hof at Spiegelgasse 9 in the middle of the spa district.

The former hotel dining room was converted into a stage and auditorium, decorated with a fresco by Paul Mersmann in the style of fantastic realism and opened in 1986. The name of the hotel, which had fallen into oblivion, was adopted for the cabaret stage and thus became generally known again. From the very beginning, the concept of the Pariser Hoftheater was to offer space for various artistic fields: Cabaret, comedy, free theater, music and projects that combine visual and performing arts. One example of this was Modest Mussorgsky's "Pictures at an Exhibition" in Wassily Kandinsky's visual interpretation. Well-known artists such as Georg Schramm and Thomas Reis have made guest appearances here, and the stage has repeatedly provided a forum for local artists such as the "Lehrerkabarett", the "Tailed Comedians" and Andreas Petzold (Pan). Guest theater performances included "The Maids" by Jean Genet and "Agatha" by Marguerite Duras. There were also lecture series and discussion forums, including on cultural life in Wiesbaden.

The stage's anchoring in the socio-cultural life of the city was reflected in collaborations at events and series such as the "Tagblatt-Talk", the gay and lesbian cultural days "An den warmen Quellen" with the AIDS organization, and political discussions together with Attac. In its own productions, the company liked to deal with its own city, for example in the revue "Wiesbaden - Glanz und Elend einer Weltkurstadt" (Wiesbaden - the splendor and misery of a world spa town), the operetta "Die schöne Galathée" by Franz von Suppé, which was set in Wiesbaden during the imperial era, or a theatrical adaptation of Liesbet Dill's novel "Die Herweghs". The rooms were also rented out to companies and private individuals. In 2004, the Pariser Hoftheater received the cultural award of the state capital of Wiesbaden. At the end of August 2014, the stage was closed by the operating group due to its strained financial situation. This left the city with a wonderful cabaret theater but no operator. However, one was quickly found: the associated non-profit Theater im Pariser Hof association has been working to preserve the theater and keep it open ever since.