Paramount, the latest addition to New York's luxury boutique hotel scene, might be the new face in town, but the location's history reaches as far back as the 1920s. Situated about half a block from the famed Times Square, Paramount's prime location and stellar accommodations come together to offer travelers one of the city's best hotel experiences.

Though some of the standard rooms are a bit smaller than most contemporary hotels, the suites are more spacious and all accommodations offer modern features such as high-definition television, pillow-top mattresses and high-speed Wi-Fi. Suites, on the other hand, offer spacious accommodations with separated bedrooms and apartment-style living.

Originally constructed between 1927 and 1928, the hotel offered 700 rooms, live entertainment, and dining and drinking venues. The location grew quite popular thanks to a great location and stylish presentation.

During the Great Depression, The Paramount underwent foreclosure and changed ownership time and time again. The popularity of the hotel's club Diamond Horseshoe led to a movie musical to be released in 1945 named after the club. However, in 1951 the club closed and the hotel saw a few decades of stagnation until a renovation and restoration in 1990. In 2009, Paramount was designated a city landmark.

Purchased by Aby Rosen for $275 million in 2011, the hotel has recently undergone a full remodeling of its public spaces as well as a thorough modernization of its amenities and lobby. The property as a whole is a great New York venue and has a full, on-Broadway theater.

Paramount offers easy access to everything a vacationer in NYC might want, and that includes access to the revived legendary Diamond Horseshoe nightclub where entertainment is in abundance and sophistication is mixed with hours of fun.