PORTLAND, ME—The Olympia Companies will develop and manage Colby College’s new 42-room boutique hotel and restaurant in downtown Waterville, ME. The hotel is owned by Elm City LLC, Colby’s development arm, and will be the focal point of Waterville’s downtown revival. Groundbreaking is expected to commence in 2017.
“Having this hotel on Main St. 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,” said Brian Clark, VP of planning for Colby College.
The Olympia Companies has developed and managed such college-owned properties as The Hotel at Oberlin (Oberlin College) in Oberlin, OH; The Alfond Inn (Rollins College) in Winter Park, FL; 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.
Sara Masterson, VP, hotel management of The Olympia Companies, said, “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.”