Paragon Hotel Corporation

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Our History & Portfolio 

COMPANY HISTORY

The foundation of Paragon Hotel Corporation was established in 1961 with the formation of Romney International Hotels by Phoenix hotel operator Wayne Romney.  During the initial five years Mr. Romney expanded the company to include eight hotel properties.

In the late 1960's, Romney International became affiliated with Jack R. Young and Associates of San Diego, preeminent hotel syndicates of the time.  From 1968 to 1971, Romney and Young expanded the corporation to 42 properties.  This rapid growth period included the acquisition of older properties with considerable deferred maintenance, creating the need for financial restructuring.  The restructuring process was completed in 1971 with the purchase of Romney International by Western Financial Corporation.  Immediate action began in determining the most expedient and prudent realignment of financial as well as personal assets.

Western Financial assigned several of their key executives to the task, among them Jim Rhead, Paragon's President and Chairman of the Board.  The decision was made to expand the company's efforts to provide an upgraded hotel product for their guests.  With this goal in mind, ten additional properties were developed or purchased, bringing Romney's total hotel properties to 53 in 22 states.
With direction from the Federal Home Loan Bank, Western Financial began the process of liquidating the assets of Romney International in 1975-1976.  The majority of Romney's hotel properties were sold during these two years.  The remaining 22 properties were spun off from Western in 1977 with a leveraged buyout masterminded by officers of Romney International, two of whom remain as present Paragon owners.

In 1984 the Board of Directors voted to change the name of Romney International Hotels to the company’s current name, Paragon Hotel Corporation.  At the same time, Paragon developed and relocated to its current office complex, Paragon Plaza.  Since Paragon's spin off from Western Financial, the corporation has completed development in excess of $300 million in new projects.

In summary, Paragon Hotel Corporation is a conservatively-managed, privately held hotel operating company with extensive development, design, and purchasing capabilities and experience.  Company officers have all been with the company for many years.  They remain committed to Paragon's excellence.  Paragon is uniquely positioned with an experienced staff which possesses expertise in all phases of hotel development and operation and continues to aggressively seek profitable opportunities for growth.  With more than five decades of involvement in the dynamic hotel industry, Paragon Hotel Corporation has a solid foundation of experience on which to build.

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HOTEL AND RESORT MANAGEMENT EXPERIENCE

Paragon has developed, operated or owned more than 80 Hospitality properties totaling over 10,000 rooms and suites in 23 states nationwide.


PROPERTY LOCATION UNITS INVOLVEMENT
Aloha Motor Hotel Phoenix, AZ 150 Operator
Ash Fork Inn Ash Fork, AZ 56 Owner / Operator
Best Western Chilton Inn Deming, NM 57 Owner / Operator
Best Western Chilton Motor Hotel Pueblo, CO 144 Owner / Operator
Best Western Chilton Motor Lodge St. Louis, MO 120 Owner / Operator
Best Western Chilton Motor Lodge Yuma, AZ 135 Owner / Operator
Best Western Cincinnati Airport Inn Erlanger, KY 152 Owner / Operator
Best Western Lamplighter Motel Hobbs, NM 60 Owner / Operator
Best Western Sands Motel Ft. Smith, AR 130 Owner / Operator
Best Western Townsman Pittsburg, KS 71 Owner / Operator
Best Western Winrock Inn Albuquerque, NM 174 Operator
Beverly Apts. Phoenix, AZ 65 Owner / Operator
Comfort Inn Sedona, AZ 53 Operator
Comfort Suites Maui, HI 324 JV/Developer
Days Inn Show Low, AZ 112 Operator
Days Inn Phoenix, AZ 170 Operator
Egyptian Motor Hotel Phoenix, AZ 46 Owner / Operator
Embassy Suites Baton Rouge, LA 224 Operator /Developer
Embassy Suites Brookfield, WI 203 Developer/Operator
Embassy Suites & Conf. Center Tucson, AZ 204 Developer/Operator
Evergreen Inn Flagstaff, AZ 150 Owner / Operator
Four Seasons Inn Kanab, UT 41 Operator
Hampton Inn Tucson, AZ 127 Developer/Operator
Hampton Inn & Suites Flagstaff, AZ 126 Operator
Hilton Airport & Conf. Center El Paso, TX 272 Operator / Developer
Hilton Airport & Conf. Center Salt Lake City, UT 291 Operator
Holiday Inn & Conf. Center Casa Grande, AZ 175 Developer/Operator
Holiday Inn & Conf. Center
Casa Grande, AZ

Developer/Operator
Hotel Park Tucson Tucson, AZ 217 Developer/Operator
Howard Johnson Phoenix, AZ 132 Operator



Los Abrigados Resort Sedona, AZ 186 Operator / Developer
Los Viajeros Wickenburg, AZ 56 Operator
Mission Hills Viscount Rancho Mirage, CA 250 Developer
Oasis Motor Hotel Phoenix, AZ 85 Owner / Operator
Quality Inn Sedona, AZ 101 Operator
Quality Inn Flagstaff, AZ 132 Operator
Ramada Five Flags Inn Flagstaff, AZ 87 Owner / Operator
Ramada Inn Bozeman, MT 150 Operator / Developer
Ramada Inn Burlington, CO 104 Operator
Ramada Inn Butte, MT 129 Owner / Operator
Ramada Inn Dalton, GA 92 Owner / Operator
Ramada Inn Emporia, KS 90 Owner / Operator
Ramada Inn Folkston, GA 121 Owner / Operator
Ramada Inn Fort Dodge, IA 140 Owner / Operator
Ramada Inn Fort Worth, TX 102 Owner / Operator
Ramada Inn Goodyear, AZ 78 Owner / Operator
Ramada Inn Harlingen, TX 150 Owner / Operator
Ramada Inn Idaho Falls, ID 135 Owner / Operator
Ramada Inn Jackson, TN 160 Owner / Operator
Ramada Inn Laramie, WY 80 Operator
Ramada Inn Lawton, OK 140 Owner / Operator
Ramada Inn Little Rock, AR 125 Owner / Operator
Ramada Inn Lubbock, TX 55 Owner / Operator
Ramada Inn Marion, IL 130 Owner / Operator
Ramada Inn Mt. Vernon, IL 130 Owner / Operator
Ramada Inn Newton, KS 85 Owner / Operator
Ramada Inn Paducah, KY 135 Owner / Operator
Ramada Inn Lake Powell, AZ 129 Owner / Operator
Ramada Inn Portland, TX 90 Owner / Operator
Ramada Inn Russellville, AR 130 Owner / Operator
Ramada Inn S. Lake Tahoe, CA 102 Owner / Operator
Ramada Inn S. Sioux City, NE 80 Owner / Operator
Ramada Inn Sacramento, CA 80 Owner / Operator
Ramada Inn Salina, KS 120 Owner / Operator
Ramada Inn San Antonio, TX 136 Owner / Operator
Ramada Inn Sierra Vista, AZ 150 Developer/Operator
Ramada Inn Spokane, WA 167 Operator / Developer
Ramada Inn Sun City, AZ 104 Operator / Developer
Ramada Inn Tucson, AZ 294 Operator
Ramada Inn Williams, AZ 96 Owner / Operator
Ramada Limited Tucson, AZ 132 Operator
Ramada Renaissance Mesa, AZ 297 Operator
Rodeway Inn Cottonwood, AZ 51 Operator
Rodeway Inn Phoenix, AZ 100 Operator
Romney Motel Holbrook, AZ 40 Owner / Operator
Romney Motel Seligman, AZ 32 Owner / Operator
Romney Motel Tucson, AZ 35 Owner / Operator
Romney Motor Hotel Phoenix, AZ 86 Owner / Operator
Romney Sun Dancer Phoenix, AZ 72 Owner / Operator
Sheraton Amarillo, TX 272 Operator
Sheraton Waco, TX 150 Operator
Suburban Extended Stay Sierra Vista, AZ 70 Operator
Sunset Inn Sedona, AZ 66 Operator
Super 8 Cottonwood, AZ 53 Operator
Super 8 Bloomfield, NM 42 Operator
Tally Ho West Corpus Christi, TX 118 Owner / Operator
Tidelands Hotel Tucson, AZ 150 Operator
TraveLodge Effingham, IL 85 Owner / Operator
TraveLodge Gila Bend, AZ 60 Owner / Operator









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