PM Hotel Group has revealed its merger with Paramount Management Associates. The combined company will manage a portfolio of 70 branded and independent properties across 22 states.
The union pairs the strengths of each organization, producing enhanced synergies, support and expertise, the company reports. Its expanded footprint and resources will position it to deliver greater returns to owners while curating exceptional guest experiences.
“This merger presented us with the opportunity to do something truly transformational,” said Joseph Bojanowski, president/CEO, PM Hotel Group. “Relationships, with our owners, associates and partners, have always been our focus. Now, with the people and scale of our combined portfolio, we are positioned to leverage our size for greater success. Paramount’s senior executives bring exceptional operational and acquisition expertise that further enhances our team and positions us for continued strategic growth.”
Ethan Kramer, cofounder/president, Paramount, joins as chief investment + development officer. He will lead the investment team, sourcing and analyzing acquisition opportunities, working with owners seeking additional opportunities and overseeing the expansion of third-party management contracts.
“We are excited to finalize this merger and are confident that joining our two companies, both of which have been steadfastly committed to culture and people, will create both increased value for our owners and additional career opportunities for our team members,” he said.
The newly merged company will operate as PM Hotel Group with headquarters in Chevy Chase, MD. Art Adler, president, Adler Hotel Advisors, consulted on the deal.
