Indianapolis Hotel Reacquired by Original Developer
- Jul 27, 2016
Merrillville, Ind.—The original developer of the Indianapolis Marriott Downtown is once again the owner of the property, which ranks as the city’s second largest hotel. The $165 million transaction closed in July.
Earlier this summer, Maryland-based LaSalle Hotel Properties agreed to sell the 622-key downtown Marriott to affiliates of Merrillville-based White Lodging Services Corp. and Carmel-based REI Investments.
White Lodging, REI Investments and Kite Cos. developed and opened the 19-story hotel in February 2001. Later in 2004, LaSalle purchased the property for $106 million.
White Lodging has managed the property since its inception and now plans a major overhaul, which will include all guestrooms, suites, meeting space, lobby, and food and beverage outlets. Plans also call for 10 additional guestrooms as well as two new restaurants with open-air seating and a redesigned lobby bar. The revamp is scheduled to begin in the first quarter of 2017.
The design of the new guestrooms, called Marriott Modern, aims to create contemporary yet warm spaces that are inspired by the local culture. The focus is on the next-generation traveler, with an emphasis on lighting and technology, as well as reinvented bathrooms.
The hotel currently features more than 40,000 square feet of flexible meeting and event space with two restaurants and convenient coffee at Starbucks. The property is connected to the Indiana Convention Center and State Parking Garage and offers Wi-Fi access, a business center, concierge lounge, renovated fitness center, 24-hour room service and mobile check-in.
Via the city’s skywalk system, Indianapolis Marriott Downtown is also connected to four other White Lodging-managed properties downtown, including the JW Marriott, Courtyard, SpringHill Suites and Fairfield Inn Indianapolis Downtown. The complex totals nearly 2,500 guestrooms and more than 140,000 square feet of meeting space, as well as six restaurants and bars.
“This acquisition is a reaffirmation of our long-term commitment and belief in the downtown Indianapolis market and we are thrilled to regain ownership of the Indianapolis Marriott Downtown,” Deno Yiankes, president & CEO, Investments and Development for White Lodging, said in prepared remarks. “The ability for us to market this property, along with the JW Marriott complex, as a 2,250 guestroom destination offering over 140,000 square feet of meeting and event space will be a compelling advantage not only for our sales team, but for the city of Indianapolis as well.”
As a result of eco-responsible efforts, the hotel was officially named a Certified Green Hotel by environmental non-profit Green Seal. The hotel is the first in Indianapolis and one of five Marriott properties to earn this certification. The organization’s Green Seal Standard for Hotels and Lodging Properties is one of the most rigorous in the hospitality industry, requiring compliance with waste management, energy efficiency, water conservation, wastewater management and green procurement standards.
Indianapolis Marriott Downtown offers easy access to the NCAA Hall of Champions, White River State Park, Lucas Oil Stadium and Eli Lily’s world headquarters.
Image courtesy of White Lodging Services Corp.