The Hotel Paramount in New York City is a hotel locate at 236 West 46th Street, to the west of Broadway. Designed by Thomas W. Lamb, construction was completed in 1928. In 1988, the hotel was closed for an 18-month remodelling project. In 1990, the hotel, under the ownership of Ian Schrager and redesigned by Philippe Starck, reopened as the Paramount Hotel. The hotel underwent a seven-month long renovation in 1998 at a cost of $7 million, which included enhancements to lobby lighting.