David Simon is the CEO and co-founder of Paramount Hotel Group (PHG). David concentrates on strategic planning and expansion for PHG and its subsidiaries. He possesses the unique ability to find undervalued hotels and provide a strategy to unlock its intrinsic value. David is a true entrepreneur who thinks like an owner and works closely with partners and employees to achieve success.
David has spent 40 years in the lodging industry developing two hotel companies; PHG and Prime Hospitality Corp, a NYSE company. David co-founded PHG in 1999. Through various partnerships, PHG’s portfolio grew to over 30 hotels. Prior to the 2008 recession, PHG and its partners timely disposed of 24 hotels achieving significant returns for capital partners. David began his career in 1977 as a corporate real estate and securities attorney with Prime Hospitality Corp. climbing to the rank of President, CEO and Chairman of the company by 1989. David directed the company’s growth from 30 hotels to over 200 hotels. This included operating a full-service portfolio under third-party brands including Marriott and Hilton and developing three proprietary brands: the highly successful AmeriSuites (now Hyatt Place) hotel brand, the Home Gate (now part of Extended Stay America) chain, and the Wellesley Inn ( now part of La Quinta) brand. He was also responsible for over $400 million in public offerings and was named 1995 CEO of the Year by Hospitality Valuation Services Executive Search.