A Leader in US Hospitality Management Joins Forces with Hyatt’s Developer of the Year
July 11, 2019. Portland, ME. Olympia Hotel Management (OHM) has announced a partnership with Mountain Shore Properties (MSP), a Charleston, South Carolina-based developer who was recently named Developer of the Year by Hyatt as part of Hyatt’s annual owner awards. Olympia won Hyatt’s Operating Excellence Award in 2016.
MSP, which was recognized for its excellent construction quality, efficiency, and hotel development in strategic locations, has decided to focus exclusively on hotel development and has elected to partner with OHM, a leader in distinctive select-service and boutique hotel management.
“We’re excited that an award winning and experienced developer like Mountain Shore Properties has selected us as their partner,” said John Schultzel, SVP of Growth & Strategy for Olympia. “We have a common DNA and a similar track record for creating award-winning properties, and we share a desire to collaborate on premier select service projects going forward.”
As a first step, OHM recently assumed management of three MSP hotels: the Hyatt House Mount Pleasant-Midtown in South Carolina; the Residence Inn Charlottesville Downtown in Virginia; and Hampton Inn & Suites Tallahassee Capitol-University. The partners are currently evaluating projects with Hyatt, Marriott and Hilton.
“We’ve known that management is not what we want to do long term and we were looking for a good fit,” said Stephen Wendell, CEO, Mountain Shore Properties, LLC. “In Olympia, we’ve found a best-in-class management company. Development is what we love and that’s where we can now focus our efforts. We can now look at projects together as a team and evaluate deals and have even more confidence moving forward to do these. Olympia is not your normal management company that plugs in six months out. We like them because they develop as well as manage, and our projects will benefit from that synergy. It’s a partnership that will allow Olympia and MSP to see more development opportunities.”
Together, MSP and OHM have created a solid platform for hotel development and management, and are actively seeking development opportunities.
“Olympia has traditionally worked with properties in the Northeast and Midwest,” added Stephen Wendell. “Mountain Shore Properties has been focused on the Southeast. This type of partnership puts us in a great space from New England all the way to Florida.”