Generator takes on New York legend for refreshment

by | 29 Sep 2022 | Projects, Refurbishments

Imagery courtesy of The Paramount Hotel and Generator.

Boutique brand Generator has signed its first third party management agreement, for an iconic New York City hotel which will now be refurbished.

The European firm will operate the legendary Paramount Hotel, joining the brand’s current 15-property portfolio as the third Generator property in North America, including sites in Miami, Florida and Washington, DC.

Next chapter

Real estate tycoon Aby Rosen’s RFR has selected Generator to curate the next chapter of the historic hotel, and the takeover will see an extensive refurbishment aiming to retain Paramount’s essence and character while upgrading the hotel’s 605 guestrooms, public areas, retail spaces and lobby bar.

The refurbishment is set to start in Q4 2022. With the inclusion of The Paramount Hotel, Generator’s portfolio will reach 16 properties across North America and Europe. Generator also operates Freehand Hotels, a collection of four hybrid accommodation lifestyle hotels in New York, Los Angeles, Chicago, and Miami.

First of many

Generator and Freehand CEO, Alastair Thomann, said: “We are delighted to announce we were selected to run our first third-party management contract with a property as iconic as The Paramount Hotel, which will be the first of many to come. At the beginning of the pandemic, hybrid accommodation was once doubted by the market but now, entering a post-pandemic world, Generator and Freehand management models have delivered all-time record-breaking figures and are seeing a bigger demand from investors than ever before. This new partnership with RFR comes at a time of exceptional growth and expansion for the company and we’re looking forward to adding The Paramount Hotel to our portfolio.”

Rosen added: “We are excited to partner with Generator to manage and re-program the historic Paramount Hotel. Generator’s reputation for leading the shared accommodation space is unmatched and their record success aligns with our goals of creating a best-in-class destination in Times Square.”

Related Articles

Project of the Week: Park Hyatt London River Thames

Project of the Week: Park Hyatt London River Thames

An unusual destination for luxury living  London’s first Park Hyatt will be located at One Nine Elms, in the south-west of London. The building’s SW8 postcode isn’t one typically associated with luxury, however the 42-storey tower promises unparalleled views across...

SHA Wellness Clinic launches healthy living island in Middle East

SHA Wellness Clinic launches healthy living island in Middle East

SHA Emirates will be located in AlJurf, an enclave on the coastline approximately halfway between Abu Dhabi and Dubai. The next stage for a wellness leader The wellness island marks the next step in SHA Wellness Clinic’s global expansion plans, after fifteen years...

Nobu Hospitality reaches 40 hotel mark with Ho Chi Minh venture

Nobu Hospitality reaches 40 hotel mark with Ho Chi Minh venture

The project is Nobu Hospitality’s 40th hotel and will be its second opening in Vietnam, following the announcement of Nobu Hotel, Restaurant, and Residences Danang - the first Nobu residential project in Southeast Asia. A milestone achievement Nobu Hotel Ho Chi Minh...

European hotel company Kempinski debuts in Vietnam

European hotel company Kempinski debuts in Vietnam

The riverside resort will be rooted in Vietnamese culture and heritage and designed by Japanese architectural studio Kengo Kuma & Associates. Kempinski Saigon River will have 100 guestrooms and suites,and is currently being developed in cooperation with Vietnamese...

Mandarin Oriental announces first Rome venture

Mandarin Oriental announces first Rome venture

The hotel will be housed in ten 19th-century villas, originally built as homes for prosperous Romans, surrounded by landscaped gardens. The secluded site is located between Via Piemonte and Via Sallustiana within The Gardens of Sallust, an ancient Roman archaeological...

ABOUT THE CHAIN

Boutique accommodation brand Generator offers travellers unique, stylish, experience and design-led spaces at affordable rates.

[showlayout id=510774]

[et_pb_blog_extras posts_number=”6″ include_post_tag=”74431″ blog_layout=”full_width” excerpt_length=”0″ show_more=”off” show_author=”off” show_date=”off” show_categories=”off” show_comments=”off” module_class=”blog-sidebar-list” _builder_version=”4.17.4″ _module_preset=”default” header_text_align=”left” header_text_color=”#58585A” header_font_size=”16px” meta_text_align=”left” background_color=”#ffffff” locked=”off” global_colors_info=”{}”][/et_pb_blog_extras]