Paramount Pictures has teamed up with a group of private investors to create a hotel management arm, with the target of opening 50 Hollywood-themed hotels over the next few years.

The newly-founded Paramount Hotels and Resorts has already began initial talks over possible locations in Brazil, the UK and Russia, as well as a number of sites across the Middle East.

The company will use the Paramount name under licensing rights secured with Paramount's parent company, US-based media giant Viacom.

Paramount Hotels and Resorts is owned by a global group of investors. Based in the United Arab Emirates (UAE), the company has named Thomas Van Vliet as its first CEO.

The launch of Paramount Hotels and Resorts was announced at the recent Arabian Travel Market event in Dubai, UAE.