Paramount Hotel Times Square, a Generator Hotel

Today, Generator announces it will manage the legendary Paramount Hotel in New York, joining the brand's current 15-property portfolio as the third Generator property in North America, including sites in Miami, Florida and Washington, DC. This deal marks a milestone for the company as an opportunity to operate its first third-party management agreement, with further deals to be announced shortly.

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

Generator and its sister brand Freehand built its' success and market-leading profitability by championing the hybrid accommodation model with diverse offerings in private rooms, shared bunk options, and flexible social and co-working spaces. The company now initiates an asset light business strategy, and recovering from the travel disruption posed by the pandemic, the Generator brand recorded exceptional occupancy and rates across its portfolio with July 2022 performance delivering the company's best ever financials and highest to date profit margin.

Hotel website