PORTLAND, ME – Olympia Hospitality, a fully integrated hotel management and development company, is poised to build on the momentum gained at year’s end with new appointments to its leadership team, new hotel additions and strong demand in the leisure segment, according to President Sara Masterson.
“As we reflect on 2024 and ready for the year ahead, I’m incredibly proud of what our Olympia Hospitality team has accomplished,” says Masterson. “We are continuing to see strong performance across our luxury hotels, and our overall portfolio has grown by roughly 11% this year, including several key additions to our campus sector and resort-style properties. Our ability to balance intentional growth along with our deep commitment to our owner experience has served us well and will continue to be the central force driving us in 2025.”
New Executive Appointments
Olympia kicked off 2025 with the introduction of two strategic hires to its bench of seasoned leaders. Michael Briggs resumes the role of managing director for the hospitality group overseeing strategy related to operational performance, sales, and revenue management for the company’s independent properties. Backed by more than 25 years of experience, Briggs started his career at Pilgrim Sands and Colonnade Hotel and has since held long-term leadership positions at Chatham Bars Inn and as general manager of lauded Inn by the Sea in Cape Elizabeth, Maine.
Kristie Rasheed joins Olympia as vice president of operations, a role that will oversee all facets of hotel operations for all 38 properties a part of the company’s portfolio. Bringing more than 20 years of experience in hospitality operations, Rasheed most recently served as managing director of The Dewberry in Charleston, South Carolina, helping to lead the hotel to international acclaim.
New Campus Openings
In 2024, Olympia welcomed two new hotels to its growing portfolio of campus-based properties with the opening of Hotel Ursa at the University of Maine in Orono in March and The Heartwood at Vassar in New York’s Hudson Valley in July. The 16 hotels in the group include The Hotel at Oberlin in Ohio and The Alfond Inn at Rollins in Winter Park, FL, which completed a highly anticipated art-filled expansion early in the year led by Olympia Development including 71 new rooms, café, additional meeting space and a spa.
The celestial-inspired Hotel Ursa development was centered on the historic rehabilitation of two original buildings on UMaine Campus – Coburn Hall and Holmes Hall – both originally built in 1887-88, and a third new building, Polaris Hall. The property houses a total of 95 guestrooms, plus on-site MajorMinor Café.
Co-developed by Olympia Development and Vassar, The Heartwood at Vassar boasts 50 guestrooms and suites adorned with thoughtfully curated art from Vassar alums, 3,500 square feet of flexible event space and a 50-seat farm-to-table restaurant called The Salt Line Hudson Valley. The hotel opened as part of The Vassar Institute for the Liberal Arts, a new convening space on campus serving as an incubator and gathering place for thought leaders and academics, as well as host to a range of lectures, classes, conferences, and more.
Said Masterson, “These latest additions cement Olympia’s commitment to supporting distinctive lodging experiences that bridge academia with the surrounding community.”
Growth in Resort Segment
Joining the company’s growing leisure and resort offerings, Olympia took over management of The Lodge at Schroon Lake in February 2024. The property sits on 36-acres on the west shore of Schroon Lake in the Adirondacks, New York, and features 116 rooms, indoor pool, three on-site restaurants plus seasonal Trailhead Vintage beer truck, and waterfront access.
The Lodge at Schroon Lake joins other notable resorts and destination hotels such as The Inn by the Sea in Cape Elizabeth, Maine, and The Glen House in Gorham, New Hampshire. Nestled in the White Mountains, this four-season hotel offers a resort-like feel with a breadth of tours and activities available to guests through partners like Great Glen Trails Outdoor Center and famed Mt Washington Auto Road.
Anchor Sustainability Initiatives & Eco-minded Design
Olympia Hospitality and Olympia Development continue to grow the portfolio with an eye toward sustainable design practices. The latest addition, The Heartwood at Vassar, focuses on energy-efficient geothermal heating and cooling systems, solar panels, and a zero-fossil-fuel operation. Guests can also opt out of daily linen service and instead have a tree planted in their name through participation in the Hotels for Trees program.
Other initiatives range from geothermal heating and cooling and gravity-fed irrigation systems at The Glen House Inn by the Sea, a member of the Beyond Green collection and participant in Hotel for Trees program, supports bee research, and engages in on-property wildlife restoration with their playfully named Rabbitat; and The Hotel at Oberlin welcomes guests with special “green” cocktails and incorporates solar, geothermal, and radiant heating and cooling.