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Paramount Adds to Management Portfolio

Wednesday February 6th, 2013 - 10:10AM

LEXINGTON, MA—Paramount Hotel Group signed management contracts to operate the Aloft Lexington and Element Lexington hotels here.

Rockwood Capital recently acquired the hotels, which share the same site, from Starwood Hotels and Resorts Worldwide, Inc.

This marks Paramount’s fourth and fifth new management contracts in 2013. Last month, Paramount added a SpringHill Suites by Marriott and a Fairfield Inn & Suites by Marriott in West Des Moines, IA, and a Courtyard by Marriott in suburban Cleveland, OH.