The Olympia Companies added Colby College as the newest member of its growing portfolio of properties in the campus hospitality sector. Olympia will develop and manage Colby’s new 42-room boutique hotel and restaurant in downtown Waterville, Maine. The hotel is owned by Elm City, Colby's development arm, and will be the focal point of Waterville’s downtown revival. Construction is expected to commence in 2017.
“We are thrilled to partner with Maine-based Olympia Companies, which is known for developing unique hotels with the high level of quality and service that we expect," Brian Clark, VP of planning for Colby College, said in a statement. "Having this hotel on Main Street will bring a constant flow of visitors to downtown to engage with merchants and shops. It signals a new vision for Waterville and will be attractive to a wide range of visitors seeking an extraordinary hotel experience.”
The Olympia Companies has been nationally recognized for developing and managing such college-owned properties as The Hotel at Oberlin (Oberlin College) in Oberlin, Ohio; The Alfond Inn (Rollins College) in Winter Park, Fla.; and The Inn at Swarthmore (Swarthmore College) in Swarthmore, Pa. Olympia currently manages six properties in Maine, including Inn by the Sea in Cape Elizabeth and The Brunswick Hotel & Tavern.
“We’re excited to partner with Colby College and play an active role in the revitalization of downtown Waterville,” Sara Masterson, VP, hotel management of The Olympia Companies, said in a statement. “This hotel is not only in our home state but it aligns perfectly with our expertise in developing and managing boutique campus properties that are successfully integrated into the community.”