Penn State announces asset sale of two university-owned properties
by Gary Sinderson
Penn State hotel sales
University Park, PA (WJAC) —
Penn State is moving ahead with plans to sell two hotels on the University Park campus.
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Under a tentative agreement, approved by the university trustees, ownership of both the Nittany Lion Inn and Penn Stater hotel would be transferred to the Scholar Hotel Group, however, Penn State will still own the land.
The Scholar Group owns and operates two other hotels in State College.
Penn State says a consultants' report recommended divesting the properties, rather than spend the money projected for renovation work.
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