“Scholar Hotel Group is excited to work through the specifics with Penn State and is committed to providing the highest quality hospitality services and environments to the Penn State and local communities,” said Gary Brandeis, president and founder of the Scholar Hotel Group, in the news release. The Scholar Hotel Group owns and manages Hyatt Place and the Scholar Hotel, both on Beaver Avenue in State College. “While both hotels have served the university community well for decades and hold a special place in Penn State history, after the in-depth evaluation to examine hotel operations, Penn State has made the determination that divesting from the hotel businesses will enable us to focus on our core missions that remain teaching, research and service,” Sara Thorndike, senior vice president for finance and business, said in the news release. According to a news release, the university will retain ownership of the land, while the Scholar Hotel Group will own and operate the properties and lease the land. The Board of Trustees voted Wednesday to approve a purchasing agreement and lease with the Scholar Hotel Group. Penn State plans to sell the Nittany Lion Inn and Penn Stater Hotel and Conference Center and lease the land they’re on to a company that will run them, in a move the university says will have long-term benefits.
University trustees approved the plan June 29, 2022, under which the university will maintain ownership of the land. Now, it’s time to find better ways to interact with you and ensure we meet your high standards of what a credible media organization should be.Ī file photo shows the front of the Nittany Lion Inn, which Penn State plans to sell, along with the Penn Stater Hotel. The days of journalism’s one-way street of simply producing stories for the public have long been over.
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