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The Paramount Hotel has come a long way in the past decade. Back in 2007, the Philippe Starke-designed hotel was shuffling along like a lost soul after the departure of Ian Schrager. But last March, the hotel reopened after a $40-million renovation which saw an upgrade of the guest rooms, a redesigned two-story lobby, a new restaurant and bar, an Italian cafe, and the introduction of a hip retail concept, Free & The Brave.
“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.