My stay at Paramount was fine, but nothing to write home about. The best part of it is the location. If you're going to New York for Broadway, this is located in the best spot. Right in the middle of everything. However, if you're there for other things or maybe just one show (I went for a week of seeing as many shows as I could so it was nice for that) then you will probably not like being in the middle of all the theatre district craziness.
As for the hotel, the lobby was the best part. It was big and beautiful, had a nice bar (and you're given drink discounts upon checking in) and live music. There is also a cafe/restaurant attached for snacks and sandwiches and drinks pre-show which was great.
Now for the rooms... SO SMALL. I know this is New York, but oh my god the room was so small. I come to NYC often and this was quite possibly the smallest and most plain/basic room I have every stayed in. It was clean, and had AC, but thats about all it had going for it. The bathroom was oddly big but reminded me of a prison cell with the metal sink and odd vibes.
If you're one of those people who comes to New York to play and barely stay in the room, then you might not care. But as one of those people myself, this was still lacking the basic amount of comfort and niceness I get elsewhere. I will not be staying here again.