State College, Pa. – Adventurous Journeys (AJ) Capital Partners announced today that it has acquired the Atherton Hotel in State College. The hotel will operate independently while renovations take place. Once complete in fall of 2019, the hotel will be converted to Graduate State College, part of the Graduate Hotels® collection. The 150-room hotel is conveniently located in downtown State College, just a few blocks from The Pennsylvania State University’s campus.
Prominently situated on Atherton Street, the hotel is a short walk from Old Main and the sprawling Penn State University Park campus, and just steps from College Avenue’s restaurants and shops. The hotel is also in close proximity to Beaver Stadium, the Bryce Jordan Center and University Park Airport, making Graduate State College an ideal location for business and leisure travelers alike. Created for travelers who seek memory-making journeys, Graduate Hotels is a thoughtfully crafted collection of hotels that reside in the most dynamic university-anchored cities across the country. Each property celebrates and commemorates the optimistic energy of its community, while offering an extended retreat to places that often play host to the best days of our lives. There are currently 11 open and operating hotels across the U.S. and an additional 12 hotels under development slated to open by 2020.
“It is with great pleasure that we announce the acquisition of the Atherton Hotel,” says Julie Saunders, Chief Marketing Officer of Graduate Hotels. “We have been actively pursuing the ideal location in State College since the inception of the brand and are thrilled with this acquisition. The town of State College and its vibrant university community have such a rich history and a fantastic, engaged alumni base. It’s the perfect fit for Graduate Hotels and marks our eighth Big Ten Conference location. We look forward to welcoming guests and the State College community next fall.”
The hotel will undergo a comprehensive renovation to convert it to Graduate State College, which will touch all guestrooms, common areas, the restaurant and lobby lounge and the hotel’s 5,000 square feet of flexible meeting and events space.
For more information on Graduate Hotels, please visit www.graduatehotels.com.