The future sale of the B Bar K Ranch and other cash commitments, donated by Betty Knoebel to DU, will fund experimental education at the newly named Fritz Knoebel School of Hospitality Management.
The sale of the 996-acre B Bar K Ranch, now owned by DU and located in Morrison is anticipated to contribute $12 million to the total gift of $17.5 million.
“The university assures that the ranch will sell,” said Scott Lumpkin, associate vice chancellor in University Advancement who has worked with the Knoebel Family advisors throughout the gift-giving process. “We have to have the right buyer come along.”
The Betty Knoebel Center for Aging will receive the first $10 million from that sale.
The Fritz Knoebel School of Hospitality Management will use the remainder of the gift to fund much of its experiential education program as part of the new curriculum, which was implemented at the beginning of this quarter.
“This is one of the largest single gifts the university has received, certainly during my time at the university,” said Lumpkin, who has worked in University Advancement for 25 years and is a two-time DU alum.
The Knoebel School will receive cash installments of the gift over a four-year period, with one installment per year.
“I’m quite confident the new curriculum will provide [the Knoebel School] more experiential learning opportunities – some of which are as of yet unidentified,” said David Corsun, director of the Knoebel School and an associate professor in the program.
With the additional funding, the Knoebel School will be able to send more students to conferences and trade shows across the country.
This year, 11 students attended the International Hotel, Motel and Restaurant Show in New York.
Corsun anticipates growing that number to 20 in two to three years. Corsun will also bring 12 students to the Annual Trade Show for the National Restaurant Association in May. Next year he hopes to bring 16.
Betty Knoebel’s gift will fund student scholarships specific to the hospitality management major, sophomores within the major, according to Corsun – and a new program in which students work with consultants to develop new concepts.
“Basically, it will be saying to students, ‘Here’s the space, here’s the client. Do the research to figure out what concept is appropriate for this,'” said Corsun. “We couldn’t previously dream of funding this.”
The private naming ceremony for the Fritz Knoebel School of Hospitality Management will be today at 5 p.m. It will consist of the unveiling of the school’s new name etched in gold leaf to the left of the building’s main entrance doors and speeches by DU faculty and administrators, including Corsun, Chancellor Robert Coombe and Dick Robinson, co-CEO of Robinson Dairy LLC and close friend of Fritz Knoebel, for whom the school is named. A representative from the Knoebel family will also attend.
