Shaner Hotel Group
In 1976, brothers Lance and Fred Shaner founded Shaner Development Corp. in Bolivar, NY. Their plan was to acquire unproductive apartments, “mom-and-pop” motels and other rental properties and make them profitable.A little more than a quarter century later, the company, now called Shaner Hotel Group, has become one of the largest hotel owner-operators in the nation, with 23 hotels in 15 states and annual sales of $110 million. The firm, now headquartered in State College, PA, employs 2,400 people. Lance Shaner is the company chairman and chief executive officer, while Fred serves as president and chief operating officer.
Between 1976 and 1983, the company amassed a portfolio of 200 profitable units, including two small motels. A defining moment in the company’s history came in 1983 when it purchased the Sheraton (now a Best Western) hotel in Lockport. A second hotel was purchased in Newark, OH, in 1986, and two more were added in 1990. By then, Shaner Hotel Group had become one of the fastest growing firms in Western New York.
In 1993, the Shaners moved their headquarters to State College. A year later, gross revenues had increased to $62 million, marking a 600-percent increase in five years. In 1999, the company opened a Holiday Inn in State College. The hotel is located in Williamsburg Square, a $30 million mixed-use project developed by Shaner.
Throughout the company’s history, the Shaner brothers have held fast to their philosophy of achieving business success, focusing on customer and employee satisfaction, a return on investment and maintaining company assets.
A second generation of the Shaner family works for the family firm. Lance’s sons, Matt and Justin, work, respectively, in the development and information technology departments. A daughter, Sarah, is a student at Penn State who works part time at the company’s Marriott hotel in State College.
Lance Shaner said his company, like many family-owned firms, has succeeded largely because it has not sought immediate financial gain, but rather has focused on the future. “The strength of family-owned businesses rests in the fact they do not have to overreact to short-term economic and political events, but can focus on what is in the best long-term interest of the shareholders, the employees and their clients," he commented.
The Shaners are actively involved in community service. Lance was co-chairperson of a capital campaign that doubled the size of the YMCA in State College and has led fundraising efforts aimed at paying YMCA dues for area children. He is also the recipient of the Golden Hammer Award, given by Habitat for Humanity for past services. Fred is active in various civic and educational organizations in the State College area.
Lance and Fred Shaner each attended Alfred University. Lance graduated in 1975 with a bachelor’s degree in history, while Fred majored in business administration.