News and Press

News and Press

Paramount Hotel Group Adds Hyatt Place Princeton to New Jersey Portfolio

September, 2016

Paramount Hotel Group, a full-service third-party hotel management company, announced today that it has been awarded the management contract for the Hyatt Place hotel in Princeton, New Jersey. Ethan Kramer, President of Paramount, made the announcement.

LodgingMagazine.com - Guide to Management Companies

April, 2016

Paramount Hotel Group (PHG), based in Fairfield, N.J., manages individual assets and portfolios of select-service and full-service hotels. As an approved operator for the major hotel brands, Paramount provides comprehensive owner services to capital partners. With a skilled team of industry professionals, Paramount excels in the investment analysis on hotel acquisitions, driving revenue, and producing superior operating margins for high net worth and institutional investor owners. In aligning its efforts with owner objectives, PHG has an exceptional record of producing significant investment returns for owners.

Paramount Hotel Group Adds Four Third-Party Management Contracts in Q1 2015

March, 2015

FAIRFIELD, NJ—Paramount Hotel Group has signed agreements to provide third-party management services on behalf of four hotels owned by a mix of institutional and private investors. All four hotels are in various stages of renovation, and Hospitality CPM (h-cpm), a construction project management firm, will oversee their completion.

Starwood Hotels’ Eco-Wise Element Brand to Expand Florida Portfolio

October, 2014

Starwood Hotels & Resorts Worldwide, Inc. today announced that its trailblazing Element brand plans to open a third hotel in Florida, less than a mile from Universal Studios Orlando. Element Orlando is slated to debut in July 2016, following next year’s opening of both Element Orlando North and Element Miami Doral. Owned by Barakat Orlando Resort, LLC, developed by GCD Associates, and managed by New Jersey based Paramount Hotel Group, Element Orlando will offer 151 stylish, sustainable rooms and a light-filled atmosphere designed to fuel a life in balance and on the move.

Paramount Hotel Group Adds Two Hotels to Growing Management Portfolio, Suburban Boston Properties First in New Relationship with Rockwood Capital

February, 2013

Paramount Hotel Group, an independent hotel management and ownership company, today announced it signed management contracts to operate the Aloft Lexington and Element Lexington hotels here in suburban Boston. It also marks a new relationship with real estate investment firm, Rockwood Capital, which recently acquired the hotels from Starwood Hotels and Resorts, Worldwide, Inc.

Paramount Hotel Group Kicks Off 2013 with Three New Management Contracts and Goal of Continued Growth

January, 2013

The three hotels recently were acquired by Lightstone Value Plus Real Estate Investment Trust, Inc., a non-traded REIT. The properties include a SpringHill Suites by Marriott and Fairfield Inn & Suites by Marriott located in West Des Moines, Iowa, and a Courtyard by Marriott in suburban Cleveland, Ohio.

Paramount Hotel Group Plans to Add 8-12 Hotels to Managed Portfolio Over Next 12-18 Months

September, 2011

“We have been owners and operators of hotel properties, as well as third-party operators, since our company’s inception,” said David A. Simon, CEO of Paramount. “Due to the substantial upswing in distressed property sales this year, we see significant demand for third-party operators who can turn these properties around and create new value for investors.

Paramount Hotel Group Named Manager of Three Florida Distressed Hotels

November, 2009

“We have a long, proven track record with distressed hotel operations and are working closely with institutional lenders, special servicers and regional banks to help them determine and execute the right strategies to recover the optimum value of their hotel assets…