NEW YORK—New York’s The Paramount Hotel has announced that Interstate Hotels and Resorts will take over as its new management company. Built in 1928, The Paramount was recently upgraded with a new design and amenities, and owners RFR Holding LLC believed it was time for a new management team to elevate the growing Paramount brand.
Interstate will enhance operations at the Paramount to fit with updated look and personality of the hotel, which re-launched in March 2013.
“After the completion of a multi-million dollar renovation, we felt it was important to align the property with a management company that could successfully reposition the hotel,” says Aby Rosen, co-founder and principal of RFR Holding LLC. “Recognizing that Interstate Hotels & Resorts is the largest third party management company in the United States, with over 450 hotels in their portfolio, they were an obvious choice.” RFR Holding LLC purchased The Paramount Hotel in 2011, adding to its already impressive hospitality group that includes the Gramercy Park Hotel, W Miami Beach Hotel, and most recently the W Tel Aviv. The pairing with Interstate has created a dream team for the Paramount.”