![]() ![]() This decision will enable the investments that will support the continuous modernization needed for the hotels to remain viable attract guests and conferences and meet guest expectations, industry standards and competition in the local hospitality market. ![]() The University’s hotels have been self-sustaining, using their own revenues to pay for expenses so that tuition, tax dollars and other funds have not been used to keep the hotels open or support operations. “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,” said Sara Thorndike, senior vice president for Finance and Business and treasurer. The Penn Stater will remain open, and the University anticipates The Nittany Lion Inn will remain closed until 2024. The contract, when signed, will keep the hotels and their services viable for the entire community as part of a ground lease agreement where Penn State would retain ownership of the land on which The Nittany Lion Inn and The Penn Stater Hotel and Conference Center are situated, and Scholar Hotel Group would own and operate the two properties for the duration of the contract. ![]() UNIVERSITY PARK, PA - The Penn State Board of Trustees on Wednesday approved for the University to enter into a purchasing agreement and ground lease for The Nittany Lion Inn and Penn Stater Hotel and Conference Center with a third-party company, Scholar Hotel Group.Ī Wednesday PSU news release said following a planning period this summer to negotiate terms, the University anticipates the purchasing agreement and ground lease will be finalized this fall. The Penn Stater Hotel and Conference Center is located at Innovation Park. ![]()
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