Rich Szymanski Joins Paramount Hotel Group as Chief Financial Officer
November 8, 2018 2:29pm
Fairfield, New Jersey – November 8, 2018 – Paramount Hotel Group, a nationally recognized third-party hotel management company, announced today that respected industry executive Rich Szymanski has joined its corporate team to serve as the company’s Chief Financial Officer. Ethan Kramer, President of Paramount, made the announcement.
Szymanski has more than 30 years of experience in executive leadership positions at two public companies within the hospitality industry. This includes time spent as CFO at Morgans Hotel Group and Prime Hospitality Corp. In these roles he oversaw all areas of finance including capital markets, accounting, treasury, strategic planning and analysis, capital allocation, risk management, taxes, internal audit, investor relations and public reporting. He has also been responsible for the development and execution of several strategic initiatives including the implementation of asset-light business models, financings, acquisitions and dispositions.
Commenting on the addition of Szymanski to the Paramount Hotel Group team, Kramer said, “I have known and worked with Rich for over two decades, dating back to when he was part of our executive team at Prime Hospitality Corp., and have always held him in high regard. His expertise and industry know-how will be of great value to us as we continue to add properties to our portfolio going forward.”
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chief financial officer,
Formed in 1999, Paramount has a proven track record of success. Paramount’s core team consists of former executives of Prime Hospitality Corp., with over 30 years of continuity and a highly personalized approach to hotel management. Paramount is comprised of three operating companies; Paramount Management Associates, a full service, third-party management company for select and full-service hotels; H-CPM, a hotel construction project management firm; and Book My Group, a national sales organization that specializes in group reservations.
Paramount has earned its position as an industry leader by expertly managing all aspects of operations for a hotel, engaging in proactive and transparent communication with owners and maintaining strong relationships with all major brands. Paramount earns praise for its unique ability to create exceptional asset value through renovating, re-branding and repositioning hotels. The company is targeting third-party hotel management contracts with owners seeking enhanced financial returns. Additionally, Paramount identifies attractive hotel acquisition opportunities for existing and new capital partners.
Contact: Paul Kesman
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