Paramount Hotels & Resorts Plans 50 Hollywood-Themed Properties
Viacom Inc. (VIA)’s Paramount Pictures is lending its name to a group of investors building as many as 50 Hollywood- and California-themed luxury hotels worldwide.
“We will offer something unique,” Paramount Hotels & Resorts Chief Executive Officer Thomas Van Vliet said in an interview in the hotel-management company’s Dubai headquarters. “In addition to luxury and services, our hotels will add Paramount entertainment and technology as well as elements of the California lifestyle.”
Chairman Ghassan Aridi negotiated a deal with the Viacom unit for the licensing rights in March. Van Vliet declined to disclose the value or details of the accord. Paramount Hotels, owned by a group of investors from the U.S., U.K., Russia and the Middle East, hasn’t announced its first hotel opening.
The company is in talks about locations in Brazil, the U.K., the Caribbean, Russia, Qatar, Oman, South Africa and Indonesia, Van Vliet said. The hotels will be opened in large cities and tourist destinations and some will be part of theme parks, resorts or casinos. Paramount’s logo, the mountain and 22 stars, has been seen by about 5 billion people and that provides a powerful attraction, Van Vliet said.
Each of Paramount’s hotels will feature mini-theaters for guests to use for private screenings and a library of Paramount films will be available for them. Van Vliet said he expects typical room rates to be around $250 to $350 a night.
“It’s not like we are trying to develop something that looks like Planet Hollywood or Hard Rock Hotel,” Van Vliet said. “It will be a more subtle and creative adaptation of the Hollywood element into the concept.”
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