News & Press


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.
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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.
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Paramount Hotel Group Kicks Off 2013 with Three New Management Contracts and Goal of Continued Growth
January 28th, 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.
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Paramount Hotel Group Plans to Add 8-12 Hotels to Managed Portfolio Over Next 12-18 Months
September 14th, 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.
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Paramount Hotel Group Named Manager of Three Florida Distressed Hotels
November 5th, 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...
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