>destination tips travel > Paramount Spins Off Hospitality Construction Project Management - Citybizlist Real Estate

Paramount Spins Off Hospitality Construction Project Management - Citybizlist Real Estate

Posted on Tuesday, September 20, 2011 by destination tips travel

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Posted September 20, 2011

FAIRFIELD, N.J. - Paramount Hotel Group has spun off a wholly owned subsidiary, Hospitality Construction Project Management, creating an independent company to help hotel owners manage renovations.

Taking the help as president is Stephen Siegel, a 25-year veteran of hotel development, renovation and construction. Hospitality CPM handles design, planning, bidding and implementation of hotel renovation projects and new construction.

"As the hotel industry begins its return to normalcy, we foresee a significant wave of renovations triggered by accelerating hotel sales and franchisors becoming stricter in enforcing brand standards," Siegel said, adding the "surge" is indicative of the present phase of the hotel real estate cycle. "Renovations today are much more complex than they have ever been."

Hospitality CPM is overseeing projects for several hotel companies, including RLJ Lodging Trust.


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21 Sep, 2011


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