Generator takes on New York legend for refreshment

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
Indian hotel chain adds southern pair to pipeline
One is a brownfield resort located in Uthandi, Chennai, and the other is a 100+-room conversion hotel in Hosur, an hour's drive from Bangalore. Swift openings The two strategically located hotels are scheduled to open in a few months. Both signings are intended to add...
Over 300 luxury keys earmarked for Bahrain
The groundbreaking of the Bahrain Marina development in the country’s capital, Manama, represents a milestone in an initiative to strengthen the Middle Eastern nation’s real estate sector. Deluxe development Spearheaded by Bahrain Marina Development Company, the...
Onyx gets second Laos site back on track
Originally announced in 2018, Amari Vientiane was put on hold during the pandemic period, but is now moving forward, with opening scheduled for Q3 2024. Developer swap The newbuild project has switched developers, having begun with Asia Investment, Development &...
Project of the Week: Mayaliah Tulum Hotel & Residences – MGallery
Mayaliah Tulum Hotel & Residences - MGallery will house 45 bespoke hotel guest rooms and 95 branded private residences among tropical greenery, with the complex celebrating the millennia-old rhythm of local life. Tulum debut The distinctive boutique property is...
InterContinental inks Malaysian eco-resort
Under the flagship InterContinental Hotels & Resorts brand, the 450-room newbuild beachfront resort will be located in Kota Kinabalu, capital of Sabah state. Full facilities Marking a new milestone in the growth of IHG’s luxury and lifestyle portfolio in Malaysia,...
Hilton takes flagship brand to Lille
Occupying a prime location in the city centre, the 124-guest-room Hilton Lille will continue to welcome guests and trade as a Hilton affiliated hotel before fully rebranding under Hilton Hotels & Resorts in 2024, following a multimillion-euro renovation. Dual...
ABOUT THE CHAIN
Boutique accommodation brand Generator offers travellers unique, stylish, experience and design-led spaces at affordable rates.