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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

PM Hotel Group Announces Upcoming Merger with Paramount Management Associates

November 8, 2021 GMT
Wave Resort | Long Branch, NJ
Wave Resort | Long Branch, NJ
Wave Resort | Long Branch, NJ

Chevy Chase, Md, Nov. 08, 2021 (GLOBE NEWSWIRE) -- PM Hotel Group today announces 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’s 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. 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,” said Joseph Bojanowski, President and CEO of PM Hotel Group. He added that, “Paramount’s senior executives bring exceptional operational and acquisition expertise that further enhances our team and positions us for continued strategic growth.”

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Ethan Kramer, co-founder and president of 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,” said Ethan Kramer.

 

The newly merged company will operate as PM Hotel Group with headquarters in Chevy Chase, Maryland. Art Adler, President of Adler Hotel Advisors, consulted on the deal.

 

ABOUT PM HOTEL GROUP
A Top-15 hotel management company, PM Hotel Group has over two decades of experience building relationships with brands, partners, and third-party hotel owners. We have participated in the development and acquisition of more than $3 billion in premium-branded and independent hotel properties across the United States. As an operator, PM Hotel Group is committed to its core values of respect- for one another, our guests, and the planet. We manage with a dedication to sustainability, a tradition of teamwork, and a passion for innovation and entrepreneurship. At PM Hotel Group we know that our people are our greatest resource. By focusing on our associates and the communities in which we work, we deliver strong performance for our owners. Learn more at pmhotelgroup.com

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Jennifer Diamond Haber PM Hotel Group 301,957,0012 jhaber@pmhotelgroup.com