News for the Hospitality Executive
The Olympia Companies Break Ground on the 128-room Hilton
Durham, NC November 12, 2012… The Olympia Companies, a real estate developer and hotel management company based in Portland, Maine announces commencement of construction of the six-story 128 room Hilton Garden Inn University/Medical Center on West Main Street in Durham, NC.
This is the first project resulting from Olympia’s strategic partnership with SMART Hotels Group, whose focus is to enhance campus lodging experiences with thoughtful new hotel development. Uniquely situated at Main Street near the corner of the 9th Street district, between Duke University’s East and West Campus, the hotel is ideally placed to serve Duke University and the Duke Medical Center. Guests of the hotel will have easy access to the Duke campus or explore downtown Durham hot spots such as Brightleaf Square and The American Tobacco Historic District. The project is one block from 9th street, Duke’s favorite spot for shopping, restaurants and student life. Consistent with the partnership’s goal of joining campus and community, the hotel design will keep in touch with the architecture concept and urban nature of Durham, with upscale elements such as fabrics, millwork, lighting and furniture. The Hilton Garden Inn brand is an ideal fit with a full array of services including ultra-fast HSIA, HDTV, stylish beverage services, along with a restaurant, fitness center, business center and 1,456 square feet of meeting space. The hotel is expected to open in September 2013.
The $17,000,000 project was funded by a combination of private equity and senior bank debt provided by Wells Fargo. The hotel will be managed by Olympia Hotel Management, an Olympia affiliate managing 13 franchised and independent hotels from Maine to Florida. “We are excited to extend our portfolio of University-based hotels in such a dynamic community as Durham,” said Kevin Mahaney, President and CEO of The Olympia Companies. In 2013, Olympia will open a second project with SMART Hotels Group – Hyatt Place Chicago Hyde Park, designed to serve the needs of University of Chicago.
About The Olympia Companies
Over the course of four decades, The Olympia Companies have developed a philosophy of maximizing value by addressing the growing complexities of modern hotel facilities. Focusing on the specific needs of hotel guests, our customer-centric strategy continues to enhance our proficiency in development and hotel operations management. Visit the website at www.theolympiacompanies.com.
VP of Hotel Operations for the Olympia Companies
207.874.9990 extension 108
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