ORDA's Board of Directors voted to approve chief executive Michael Pratt to sign a deal with Buffalo-based company Hadley Exhibits to re-design the museum and develop, design and install new and existing displays.

The aim is to draw more visitors to the attraction to engage with commemoration of the 1932 and 1980 Winter Olympics which were held in the village in New York State.

"The average visitation in Lake Placid is around 2.5 million visitors a year," Pratt said, as reported by Adirondack Daily Enterprise.

"We’re seeing 41,000 of those [people] come through the museum, it’s less than two per cent.

"Return business is not really there.

"It’s not very strong because even though the artifacts are powerful, the collection is powerful, our ability to tell the story is somewhat hampered by the space and the agent.

"When you just build a nice stand for something, it’s not as powerful as what we need to do."

Pratt presented the Board with a vision for the future of the museum with interactive, digital and three-dimensional exhibits that would regularly change to entice people to return.

Artistic displays for artifacts and a more modern facility to host the museum’s existing activities for school children were also mooted.

The museum is currently housed inside the Conference Center on Main Street while the link building - the section of the Olympic Center that connects the 1932 and 1980 Olympic ice rinks - is under construction.

The ORDA Board previously approved a renovation of the link building costing more than $32.9 million (£23.9 million/€27.8 million), $22.8 million (£16.5 million/€19.3 million) for renovations to the 1932 and 1980 rinks and $11.7 million (£8.5 million/€9.9 million) for the replacement of the refrigeration system at the Olympic Center.

The work on the link building is expected to be complete by November 2022 as the Olympic Village gears up to host the 2023 Winter World University Games.

It will be the second time Lake Placid has hosted the event, with the first in 1972.