The management deal increases Paramount Hotel Group's portfolio to four hotels in New York State and its second in Rockland County. The company also manages the Fairfield Inn Spring Valley/Nanuet hotel located at the Spring Valley Marketplace in Spring Valley. Its New York portfolio also includes two hotels in the Albany area.

The Hilton Garden Inn in Nanuet, which is being developed by a private investment group, is scheduled to open this September. The five-story property will feature 88 guest rooms, including eight executive suites, as well as three meeting rooms with the capacity to accommodate 150 people. The hotel will also include Hilton's signature Pavilion restaurant as well as an indoor swimming pool, whirlpool spa and a large fitness center.

"This was a hotly contested contract for a great property," says David Simon, Paramount Hotel Group's CEO. "We have had an outstanding relationship with Hilton and look forward to expanding it with the Hilton Garden Inn brand."

The Hilton Garden Inn is located at exit 14 of the New York State Thruway and nearby the Palisades Center, a shopping center that features more than 200 shops and restaurants. The complex is just down the road from its Fairfield Inn/Spring Valley Nanuet facility as well.

Paramount's Simon adds that his firm is in negotiations with other hotel owners for a number of additional hotel management deals. "We are seeing a significant increase in management opportunities, both for new builds and acquisitions. Every hotel in our managed portfolio of 25 properties has consistently returned cash to our owners throughout the downturn of the past several years. We believe owners are increasingly gravitating to management companies that can generate profits regardless of the economic conditions."

The Paramount Hotel Group's portfolio also includes five hotels in Connecticut, including the Fairfield Inn Stamford Greenwich in Stamford. The firm, founded in 1999, is an independent hotel management and ownership group that currently manages and/or has ownership interests in 25 properties, with more than 3,000 rooms. Most of the hotels operate under the Marriott, Hilton and Park Inn flags or are independent hotels.