�Today, many universities and colleges are faced with fierce competition for prospective students and tuition dollars,� said Chase Burritt. �Also, these same universities and colleges are pressured to maximize revenues and income while providing their students with a memorable and effective educational experience.�

Ernst & Young�s Hotel Development Service provides a wide variety of services to assist in evaluating potential hotel developments. These services include feasibility and conversion studies, transaction services, project management oversight, tax advisory services, and asset management services.

�In addition, this competition is also matched with the high demands and expectations of a sophisticated student body in conjunction with a college education expense.�

The development of an on-campus hotel can impact potential academic, economic and social benefits,� added Mr. Burritt. �Ernst & Young�s Hospitality Services Group created the new dedicated service to bring a new level of sophistication and specialization to help clients execute an appropriate development strategy.�

�It is especially important for these universities and colleges to select an advisory service that can assess the viability of an on-campus hotel and meet their expectations,� he said. �This is extremely challenging in today�s competitive market.�

For example, the University of Pennsylvania wanted to explore the possibility of a development plan to offer more amenities to raise the quality of the physical environment and the range of housing and commercial options available to the University�s campus community.

The goals of the development were to create and foster a safe, secure and lively campus environment, making the campus a more competitive and attractive institution for the top-quality students, faculty and staff that the University of Pennsylvania must attract and retain in order to prosper.
Ernst & Young�s Hospitality Services Group was retained by the University of Pennsylvania to help address the potential and the planning of such a development, help to select a construction team, and implement the marketing strategy for the development.
 

The development, Sansom Common, is a $72 million, 300,000 sq-ft mixed-use, hotel and retail conference center complex, including a 260-room first class hotel complete with conference amenities, a 50,000 sq-ft campus bookstore operated by Barnes & Noble (the largest in the country), public atriums, and a diverse range of retail/entertainment shops and restaurants. Mr. Burritt listed a number of benefits to university leaders when selecting the �right� advisors, including: access to top level management and staff; significant experience working with on-campus hotels; offering the right scope to

INN AT PENN 3600 SANSOM STREET Philadelphia, PA

The Ernst & Young Hospitality Services Group is the nation�s largest fully integrated hospitality practice with over 50 dedicated advisory services professionals. The practice offers a full scope of multi-disciplinary services for every major segment from lodging to travel, tourism to attractions. These services include assistance with acquisition, development, operations and disposition.

Ernst & Young�s Hospitality Services Group maintains a dominant market position in such major markets as California, Phoenix, Dallas, Atlanta, Philadelphia, Chicago, Boston, New York, and Miami.