Paramount Hotel

The Hotel Paramount in New York City is a hotel located at 235 West 46th Street, to the west of Broadway. Designed by Thomas W. Lamb, construction was completed in 1928. In 1988, the hotel was closed for an 18-month remodelling project. In 1990, the hotel, under the ownership of Ian Schrager and redesigned by Philippe Starck, reopened as the Paramount Hotel. [cite book|title=Times Square and 42nd Street in Vintage Postcards|author=Randall Gabrielan|date=2000|publisher=Arcadia Publishing|isbn=0738504289|pages=57] The hotel underwent a seven-month long renovation in 1998 at a cost of $7 million, which included enhancements to lobby lighting. [Louie, Elaine. [http://query.nytimes.com/gst/fullpage.html?res=990DE7DA1F3DF935A25757C0A96E958260 "Currents; LIGHT FOR THE PARAMOUNT -- Just Meet Me in the Lobby (This Time You'll See Me)"] , "The New York Times", April 16, 1998. Accessed December 29, 2007.]

After purchasing the hotel in 1986, Ian Schrager was able to more than double occupancy rates in about two years, to 82%. [Martin, Douglas. [http://query.nytimes.com/gst/fullpage.html?res=940DE3D7133FF932A25754C0A96E948260 "NEW YORKERS & CO."] , "The New York Times", July 11, 1998. Accessed December 29, 2007. "The occupancy rate of the Century Paramount on 46th Street, which charges $65 to $130 a night, has risen to 82 percent, from 38 percent, in the two and a half years Mr. Rubell and Mr. Schrager have owned it."] Schrager sold the hotel in 2004 for $126 million to a Sol Melia Hotels and Resorts / Hard Rock Cafe joint venture. [Pristin, Terry. [http://query.nytimes.com/gst/fullpage.html?res=9506EFD61F3BF937A25754C0A9629C8B63&sec=&spon=&pagewanted=2 "COMMERCIAL REAL ESTATE; Hotels and Hotel Deal Makers Are Busier"] , "The New York Times", July 14, 2004. Accessed December 29, 2007. "In New York, where room occupancy in May was an impressive 85.8 percent, according to PKF Consulting, Ian Schrager, the creator of stylish boutique hotels, sold the 620-room Paramount Hotel for $126 million to a joint venture of Sol Melia Hotels and Resorts and Hard Rock Cafe."]

Various musicians have been associated with the Paramount. The Paramount Hotel Grill, a restaurant within the hotel, hosted jazz performances from the 1930s onwards. At the height of their fame in 1931, the Memphis Stompers performed at the Paramount Hotel. Charlie Barnet led a band there from 1932 onwards. [cite book|title=The New Grove Dictionary of Jazz|author=Barry Kernfeld|date=1988|publisher=Macmillan|isbn=093585939X|pages=231] [cite book|title=Classic Jazz|author=Scott Yanow|date=2001|publisher=Backbeat Books|isbn=0879306599|pages=219] [cite book|title=The Complete Idiot's Guide to Jazz|author=Alan Axelrod|date=1999|publisher=Alpha Books|isbn=0028627318|pages=153]

References

Further reading

* — contains a case study of Schrager's redevelopment of the hotel

External links

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