Luxury Boutique Hotels Become Part of the College Experience
Skift Take
Luxury boutique hotels are suddenly sprouting up near the campuses of small liberal arts colleges. But most seem to be shunning franchise flags in favor of independence. We examine the reasons why.
Oberlin College in Ohio, Swarthmore in Pennsylvania and Rollins College in Florida all own hotels. Other small academic institutions, like Colby College in Maine and Williams College in Massachusetts, are also going into the hotel business. But while these colleges are the owners of upscale boutique hotels on or near campus, they are not the developers nor the operators. As Jeffrey G. Eisenbarth, vice president for business and finance and treasurer at Rollins College notes, “Colleges are good at higher education, but not so good at designing, developing, and running hotel properties.”
Still, the prospect of a small hotel near campus might seem appealing, due to a potential client mix of town and gown. However, the financial risk of owning a property, particularly in a small college town, may be a big ask from investors. But when the college itself is the owner, there are some prime opportunities for developers and management companies that understand the campus hospitality business.
The Olympia Companies, based in Portland, Maine, specializes in hotel development and management. Sara Masterson, vice president of hotel management, runs a portfolio made up of the non-flagged hotels owned or managed by Olympia. Most are campus-adjacent properties. “College-affili
