The university said Monday that it had suspended the team for seven days for "the consumption of alcohol" on their recent pre-season road trip to Princeton, N.J.
The hotel where the players stayed confirmed that other guests complained they were being noisy.
A Ryerson player spoke to CBC News about the incident but did not want his name used for fear of further discipline.
He said drinking is part of hockey culture.
"We're going to drink a few beers while we are on the road," he said. "It's exhibition games, it doesn't mean anything."
Ryerson also announced that head coach Graham Wise has been suspended for four games.
"The University takes incidents of misbehaviour seriously and student-athletes and coaches are well aware of the behaviour expected of them," Ryerson said in a release.
The team will forfeit their next two games — against the University of Ontario Institute of Technology on Thursday, and against Queen's on Saturday — before returning to the ice on Nov. 15 against the Royal Military College of Canada.