Olympia Companies to Develop and Manage New Hyatt Place Hotel in Crocker Park in Cleveland, OH

Partnering with Stark Enterprises, developers of Crocker Park, Westlake, Ohio

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. January 15, 2015

Portland, Maine - January 15, 2015 - The Olympia Companies, an innovative privately-owned real estate company specializing in hotel investment, development and management, will develop and manage the new Hyatt Place Crocker Park in the Cleveland, Ohio suburb of Westlake.

Cleveland-based Stark Enterprises is the master developer, and has announced its selection of The Olympia Companies to create a signature hotel that will complement the award-winning Crocker Park lifestyle development. Crocker Park features townhomes, apartments, retail, restaurants, leisure, and commercial office buildings. Hyatt Place Crocker Park is being developed in conjunction with the relocation of the international headquarters of American Greetings Creative Studios to the Crocker Park development.

"We chose The Olympia Companies because they are a standout leader in the hotel industry," said President and Chief Executive Office Robert Stark, of Stark Enterprises. "Their hotels are not just aesthetically superior but are also community assets that are famous for providing an exceptionally high level of guest experience and service. Our shared values make Olympia an ideal partner, and we have every confidence that Hyatt Place will be a successful addition to Crocker Park's already outstanding community."

Olympia Development, a division of The Olympia Companies, is providing services to Stark Enterprises throughout the project's design and construction phases and has worked closely with the City of Westlake Planning & Economic Development Department, as well as spearheading the design review process with Hyatt Hotels. Olympia Hotel Management will manage the hotel opening and operation. Hyatt Place Crocker Park will be similar in style to Hyatt Place Chicago-South/University Medical Center in Chicago's Hyde Park neighborhood, which is an award-winning project also developed and managed by The Olympia Companies.

"Hyatt Place Chicago-South/University Medical Center has been very well received and will serve as a valuable template for what we're doing in Crocker Park," says Kevin Mahaney, president and CEO of The Olympia Companies. "We're delighted to be partnering with Stark Enterprises, a company that has a strong track record for developing first rate projects. Our companies have the same DNA when it comes to excellence, performance and delivery."

"We are thrilled to continue building upon a strong relationship with The Olympia Companies and value Stark Enterprises inviting us to join their exciting development at Crocker Park," said Julienne Smith, Hyatt's senior vice president of development for Hyatt Place and Hyatt House in North America. "This hotel will bring a new and dynamic product to the marketplace, and is a great example of our continued focus on growing premium hotels that will attract business and leisure travelers alike."

The 110-room Hyatt Place Crocker Park, designed by Legat Architects of Chicago, will offer 1,000 square feet of meeting/function space, as well as a fitness room and pool. The design calls for an exterior wrapped in stainless steel and terra cotta panels punctuated with metal mesh screens that extend the entire height of the building. The hotel will feature an internally illuminated curtain wall on the corner and an upgraded lobby that opens to an outdoor patio and fire pit overlooking Crocker Park's newest pedestrianized street experience.

Hyatt Place Crocker Park is 13 miles from Cleveland Hopkins International Airport and less than 20 miles from downtown Cleveland. The property is expected to open in the 4th quarter of 2015.

The Olympia Companies

Over the last four decades, The Olympia Companies has grown from a well-regarded regional player in the Northeast to an award-winning national presence for high profile development, equity and management projects. The Olympia Companies is led by President and CEO Kevin Mahaney, an Olympia Silver medalist and a leader in capital asset management, business and real estate. The Olympia Company's dynamic and pedigreed executive team delivers expertise in hotel development, LEED building design and construction, project management, operational oversight, branding, as well as sales and marketing. The company currently has 19 hotel projects under management in the United States.

The Olympia Companies
7 Custom House Street, 5th Floor
Portland, Maine 04101
207.874.9990
www.theolympiacompanies.com

Press Contact
ConranPR
Gayle Conran
[email protected]
212.447.1010, Cell 917.769.840