Matt finish is good choice - easier to get rid of nasty marks, but you will probably end up needing to repaint every so often.

Southlight Studio had a small white area with a short "cyc" that gave a nice curve from floor to ceiling. I remember well, having to paint it white again after a shoot, in my assisting days (transformed from a dark beige); took a while, but mopping it after other shoots was a breeze.

Paper, we reused quite a few times, but once the white got too dirty (where the talent would stand and move only), a quick slice with a Stanley Knife (boxcutter), soon had it nice and clean again.