Becker is not alleged to have been involved with the events of the bid acceptance night itself, which prosecutors have described as hazing.
The 31-year-old Atherton Hotel in State College will be getting a new name and a new look in 2019.
A Penn State fraternity member is facing felony charges after police say he admitted to selling cocaine in the State College area, including to some of his fraternity brothers.
The former social chairman for Beta Theta Pi on Monday pleaded guilty to one charge and had 15 others dropped in the Tim Piazza case.
The late B.P. Moyer founded the business in 1949 and since then it has been passed down through three generations.
Kanzler was among the defendants charged in November 2017 after the recovery of deleted basement video footage from the fraternity's bid acceptance night on Feb. 2, 2017.