CSM Corp. to Develop the First Two-Flag Hotel Building in Indianapolis
- Aug 08, 2014
Minnesota-based CSM Corp. is planning the construction of the city’s first dual-branded hotel building. The project is slated to rise downtown, on a surface parking lot at the corner of Pennsylvania and Georgia streets.
According to the Indianapolis Business Journal, the 15-story structure would feature two lodging facilities, an Aloft and an Element hotel, with a total of 286 rooms.
The company intends to purchase the site of the new development from local developer Allen Commercial.
Designed by Ratio Architects, the building will also include two ground-level restaurant spaces, a smaller, second-level restaurant space and structured parking.
The Indianapolis Historic Preservation Commission is scheduled to hear CSM’s plans at a preliminary review on Aug. 12. The city’s decision is expected later in the fall.
If approved, the hotel building will be developed and financed under a license from Stamford, Conn.-based Starwood Hotels & Resorts Worldwide Inc. Besides Aloft, which caters to daily business travelers, and Element, which is more rare and caters to extended-stay visitors, the company’s other brands include the W boutique, the luxurious Le Meridien, and the more popular Sheraton and Westin.
The dual-branded Aloft and Element hotels are gaining popularity in major metropolitan markets, according to Allison Reid, Starwood’s senior vice president of North American development.
A similar property has recently been built in Lexington, Mass., while others are scheduled to open in Boston in 2016, and in Columbus, Ohio, and London, the following year.
White Lodging of Merrillville is largely responsible for the dual-branded hotel trend, according to Mark Eble, Midwest regional vice president for San Francisco-based PKF Hospitality Research.
The company is currently building a dual-branded Hyatt Place/Hyatt House in Denver, which is scheduled to open next summer.
“This is a concept that is growing in popularity,” Eble told the newspaper. “It’s relatively new in the industry to have two brands under the same roof.”
Photo credits: Starwood Hotels & Resorts