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Toftrees Resort and Conference Center Acquired by
State College, PA Businessmen; Appoint Shaner
Hotel Group to Manage
STATE COLLEGE, Penn. - (November 18, 2004) - A group of leading businessmen with strong ties to State College have acquired control of the historic Toftrees Resort and Conference Center and named locally based, nationally-known Shaner Hotel Group to manage the luxury golf resort. 
The new ownership group, State College Friends Limited Partnership, includes S&A Homes president, Bob Poole, Shaner Group chairman, Lance Shaner, Penn State and Chicago Bears football star, Matt Suhey, Penn State benefactor, Bill Schreyer, Aqua Penn founder, Eddie Lauth, Sieg Financial Group chairman, Phil Sieg, and entrepreneur and Penn State adjunct professor, Ed Friedman.  Terms of the deal were not disclosed. 

"Toftrees has been a local gem for three decades, and we felt it was important that the ownership be controlled by people who love State College and want to make sure that the property maintains and improves

Toftrees Resort & Four Star Golf Club
One Country Club Lane
State College, Pennsylvania
its facilities for the future," said investment partner, Bob Poole. 

The Shaner Hotel Group has its national headquarters in Williamsburg Square, in State College.  The group, with 25 properties nationwide, has signed a long-term management contract to manage and operate Toftrees, a 102-room hotel situated on a 180-acre resort. 

"The Toftrees Resort is a great boutique property that has been a meeting place for executives and visitors to State College for many years," said Lance Shaner.  "We are developing a long-term plan that will evaluate the property and take advantage of its unique qualities.  The luxury lodging and meetings market, along with exclusive boutique hotels and resorts, is highly prized.  Toftrees is poised to benefit from that emerging trend."

Toftrees - meaning "home among the trees" - was literally carved out of a forest of oak and white pines in the heart of Pennsylvania's panoramic landscape. Secluded in the center of the Toftrees community, the Toftrees Resort has recently been rated 4 1/2 stars by Golf Digest's "Places to Play" and one of the top golf conference center resorts by Meetings and Conventions Magazine. 

The Toftrees Resort continues the Shaner Hotel Group's tradition of managing hotel/conference centers.  This November, Shaner will open the Courtyard by Marriott - University of Delaware.  The new hotel, owned in partnership with the university, adjoins the Clayton Conference Center at the University of Delaware. 


Portman Holdings
Also See: In Partnership with Academia, Shaner Hotel Group Will Build a 120 room Hotel on the Campus of the University of Delaware / May 2001
Shaner Hotel Group Hotel Re-flags the Historic Savery in Des Moines as the Renaissance Savery Hotel / Oct 2002
The Shaner Hotel Group Forms Alliance with Essex Partners; Will Provide Accounting Services for Essex's 18 Hotels / February 2003

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