Paramount Starts With Contracts for $400M

CHICAGO-Paramount Lodging Advisors, headquartered here, has contracts for the marketing of 45 hotel properties with a total valuation of approximately $400 million, says Daniel Beider, a founding member and principal of the company. The company will have initial offices in San Francisco; New York City; Charleston, SC; Richmond, VA; London; and Vancouver, Canada.

Paramount will have brokerage services for the buying and selling of hotels and will also have a variety of other services, such as finding hotel sites, asset management, construction and development consulting, valuations, executive searches and food and beverage consulting, says principal Philippus Miller. The company is currently marketing properties in 14 states including Vermont, Pennsylvania, North Carolina, South Carolina, Maine, Illinois, Missouri, Iowa, Michigan, California and Arizona and are also marketing properties in seven other countries including Canada, London and elsewhere in Europe. Paramount expects about 15% of the brokerage volume to initially be international, and to increase the percentage to 50% within five years.