Mount Vernon Adds Falmouth Boutique to Growing Hotel Assets

Falmouth — The Mount Vernon Company, developers and owners of multifamily and hospitality properties throughout New England, has acquired the 82-room ‘Inn on the Square’ in Falmouth. The 40-year-old company, with a high-quality reputation as owners and operators, has added Inn on the Square to its hotel collection. Mount Vernon now owns and manages boutique properties in Nantucket, downtown Boston, Plymouth, Portsmouth, NH, North Conway, NH, and beyond. The Company has plans to ‘elevate’ Inn on the Square to a new level, according to a release.

“We are extremely excited to own this strategically located hotel, and look forward to enhancing the visitor experience through refurnishing the rooms, upgrading the landscaping, and adding new amenities, which are now in the planning stage,” said Bruce A. Percelay, Chairman of the Mount Vernon Company.

The Mount Vernon Company prioritizes community engagement, driven largely by chairman Bruce A. Percelay’s extensive philanthropic portfolio. Percelay was a key proponent of and investor in the construction of the new Nantucket Whaling Museum. His leadership roles include serving as chairman of Nantucket Cottage Hospital, publisher of N Magazine, and chairman of the Edward M. Kennedy Institute for the United States Senate. Additionally, he is a former chairman of Habitat for Humanity and the Make-A-Wish Foundation, and he recently founded Nourish Nantucket, an island-wide hunger-prevention nonprofit.

Regarding his latest Falmouth purchase, Percelay added, “We want to make these improvements in the spirit of the Falmouth community and look forward to working with the town in improving this asset.”

Inn on the Square will be managed by Olympia Hospitality, based in Portland, Maine, which has established a long history of operating premier boutique properties in New England and across the United States. Olympia manages all of Mount Vernon’s boutique hotels and is known for the quality of its management services. According to Sara Masterson, president of Olympia Hospitality, “We are well-positioned on the Cape and the Islands, so we understand the operations and the travelers there. This is a charming destination, and we are excited to welcome guests to the Inn this summer.” According to Olympia, “Work to the hotel will not begin until the end of this season and improvements to the property will be completed in the spring of 2027.”

Bruce A. Percelay