Interstate Hotels & Resorts has signed an agreement with RFR Holding LLC to take over management of the 597-room Paramount Hotel.
The New York City hotel, located near Times Square in Manhattan, recently completed a multi-million dollar renovation.
“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,” said Aby Rosen, co-founder and principal of RFR Holding LLC.