As reported by the New York Times, colleges are spending more on recreation than instruction.  This is no surprise.  For example, my alma mater, Ithaca College in New York, is spending several million dollars on a new athletics & events center (pictured here), which will be the largest indoor events venue in the surrounding county.  There is even a live webcam of the construction here. 

According to the article:  

“This is the country-clubization of the American university,” said Richard K. Vedder, a professor at Ohio University who studies the economics of higher education. “A lot of it is for great athletic centers and spectacular student union buildings. In the zeal to get students, they are going after them on the basis of recreational amenities.”

On average, spending on instruction increased 22 percent over the decade at private research universities, about the same as tuition, but 36 percent for student services and 36 percent for institutional support, a category that includes general administration, legal services and public relations, the study said.