
A small college in New Jersey has purchased a Marriott golf and spa resort for $20 million to alleviate its student housing shortage problem.
Officials at Richard Stockton College say that buying the resort was a cheaper option than building new dorms. Stockton College is minutes away from Atlantic City.
The Marriott Seaview Resort has been around since 1914 and cost about $1.4 million to build. Today it’s over 600 acres and just 5 miles away from the college. 1 bedroom suites at the resort are running at roughly $250 per night. The hotel has 297 rooms and because the college has purchased the resort, the golf resort and spa’s profits will create a new source of revenue for the higher ed institution.
This year, all higher education institutions in New Jersey were hit incredibly hard by budget cuts. Every college and university in New Jersey has increased tuition and fees between 3.5 percent and 7.3 percent this year.
Although taxpayers are not happy about students living in spa resorts, the $20 million resort purchase won’t affect student tuition. Stockton’s $11,393 tuition fees per year are among the lowest of 4-year institutions in the state. Stockton’s Capital Investment Fund, which is separate from the college’s operating budget, purchased the resort property and is negotiating with the township to pay annual fees rather than property taxes—non-profit colleges usually don’t pay property taxes.
The golf resort will still be open to the public, but part of the hotel’s 297 hotel rooms will be used to house students. Seaview Marriott has 36 holes, an Elizabeth Arden Spa, a fitness center and 2 swimming pools.
While the idea of pursuing higher education at Stockton for its luxurious dorm accommodations may be appealing, only honor students, graduate students and hospitality majors will be housed at the resort.
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#1 Factual Errors
Marriott has not managed Seaview Resort since April 2009. Also, Seaview Resort does not or operate the Elizabeth Arden spa mentioned in the story. So the headline, "New Jersey college offers spa resort housing for students," is misleading. The story fails to mention key facts that would explain the college's decision to purchase the resort including the fact that it will use the hotel as a learning laboratory for its hospitality management program or the fact that it is buying the real estate for about half the price of building new student housing. To put this into perspective, Johnson & Wales University in Providence, R.I., owns and operates three hotels and a conference center as part of its hospitality management program.