Paramount Hotel Times Square New York | 896 followers on LinkedIn. One of the most fashionable Midtown boutique Manhattan hotels is The Paramount Hotel, centrally located in the heart of bustling Times Square. Completely renovated in 2009, The Paramount remains the consummate Times Square New York hotel, with easy access to the Broadway Theater District, Restaurant Row, upscale Madison and Fifth Avenue shopping, Penn Station, and the Jacob K. Javits Convention Center.