Olympia Hotel Management Opens Hyatt House Tallahassee Capitol – University in Florida

USA, Tallahassee, Florida. March 08, 2021

Hyatt House Tallahassee Capitol - University and Olympia Hotel Management (OHM) proudly announced today the hotel's opening in the Florida state capital.

The five-story, 80,000 square foot property is comprised of 120 guestrooms, including 77 with full kitchens, a large patio with outdoor bar service, an outdoor pool, a fitness room, and an 846-square-foot meeting space. 6,000 square feet of retail space is situated adjacent to the modern extended-stay hotel. Developed by Mountain Shore Properties (MSP), a Charleston, South Carolina-based developer, and managed by OHM, Hyatt House Tallahassee Capitol - University is located in the city's Railroad Square Art District.

"We think the demand for travel in the back half of 2021 is going to be extremely strong," said CEO Stephen Wendell of MSP. "The underlying demand generators pre-Covid 19 still exist and show no signs of stopping. The fact is that some aspects of business travel can't be done virtually. It is my belief and hope that we are going to be in a far different world come summer."

MSP selected the city of Tallahassee for the new hotel because it offers a unique and dynamic mix of government, university and business interests. It is home to the Florida Legislature as well as Florida A & M University and Florida State University. At its heart is the Railroad Square Art District, a unique area within the city known for fostering art, culture, and creative small businesses. The eight acres of brightly painted historic industrial warehouses have been gradually transformed over the past four decades, beginning in the late '70s, by artistic visionary Nan Boynton, and continued under the ownership of Adam Boynton Kaye and Lily Boynton Kaye since 2002. The former lumber mill/industrial park has morphed into the workshops of artists and craftsmen and is now a hub of creative entrepreneurship.

"Mountain Shore Properties demonstrated a lot of wisdom and thoughtfulness by really going above and beyond to seamlessly integrate their hotel into the existing fabric of the art district," said Adam Boynton Kaye, CFO, and Co-Owner, Railroad Square. "Hyatt House Tallahassee Capitol - University serves as a role model on perfecting the combination of commerce, creativity, and community."

MSP already has a successful track record in the Florida city, having developed and opened the Hampton Inn & Suites Tallahassee Capitol - University in 2018, which OHM also manages.

"Extended-stay properties have been strong during Covid-19," said OHM's Chief Growth Officer John Schultzel. "The occupancy numbers at our nearby Hampton property have been solid and Tallahassee is a unique destination. There is government demand, two universities with students who really want to be back on campus now, as well as a great downtown anchored by Railroad Square. It was important to open this new property in the first quarter with an eye to securing bookings for the third quarter and beyond."

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