STATE COLLEGE, Pa. (WTAJ) — Following the Penn State Board of Trustees’ approval of a purchasing agreement and ground lease for two PSU hotels, the Scholar Hotel Group is expanding further in State College.
Scholar Hotel Group will have two more properties under the company’s name in Happy Valley after acquiring both the Residence Inn by Marriott State College and Courtyard by Marriott State College from Apple Hotel LLC.
“With already having a presence in State College, it made sense for us to expand in that area,” Vice President of Sales & Marketing Ronald Balle said. “Also, having the ability to add two Marriott properties to our portfolio was very attractive to us as well.”
Scholar Hotel Group is currently in talks with Penn State to acquire the Nittany Lion Inn and Penn Stater Hotel & Conference Center.
“We’re still in the process of working out all the details,” Balle said. “But obviously it’s very exciting and it’s been a great privilege to be selected by the University to be able to purchase these two great hotels.”
The two Marriott properties will be added to the Scholar Hotel Group’s already established roster of hotels in the area, including the Hyatt Place and Scholar Hotel.
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“Our business model is to acquire hotels on or near college campuses, so there are other markets that we’re currently looking to expand into,” Balle said. “It’s just kind of aligned this year where State College opportunities have come along that we’ve been able to close on.”