Paragon Hotel Corporation
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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 |
| Hopi Cultural Center | Second Mesa, AZ | 33 | Operator |
| Hotel Park Tucson | Tucson, AZ | 217 | Developer/Operator |
| Howard Johnson | Phoenix, AZ | 132 | Operator |
| Kokopelli Inn | Sedona, AZ | 42 | 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 |
| 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 |
| TraveLodge | Iowa City, IA | 90 | Owner / Operator |
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