Five Luxury Hotels Over the Next Five Years

Major hotel projects are starting to take place throughout downtown Indy, solidifying Indy as a hot spot for hotel development. This comes just after Visit Indy announced $1 billion in new convention business, partly due to the current expansion of the Indiana Convention Center. With a record-breaking year for tourism, and hotel occupancy rates setting new records month after month, these hotel developments couldn’t come at a better time. As a premier event city that hosts 500+ conventions and events in a calendar year, Indy is pleased to announce these five luxury hotels over the next five years, all within a 5-mile radius of each other. 

1. InterContinental Hotel

170 rooms (anticipated opening: Fall 2024)

Indy’s newest hotel will be perfectly positioned right off Monument Circle, the epicenter of Indy. While once on a list of Indiana’s 10 most endangered landmark buildings, the hotel will offer a rooftop bar with an unobstructed view of Lady Victory, sitting above the iconic Soldiers and Sailors Monument.

Renderings/more information

2. Kimpton Hotel

130 rooms (anticipated opening: 2026) 

The historic Odd Fellows building at the corner of Pennsylvania and Washington streets will soon house this $85 million project featuring a rooftop bar. 

More information

3. Signia by Hilton

800 rooms (anticipated opening: Fall 2026) 

The 38-story hotel property will soon become Indy’s tallest hotel, including a top-level bar with a bird's-eye view of the city. This $710 million development is part of the Indiana Convention Center expansion. Once complete, it will bring the total number of hotel rooms connected via climate-controlled skywalks to 5,500+, more than any other city in the nation.

Renderings/more information

4. Shinola

170 rooms (anticipated opening: 2027)

Announced in July 2024, Indy will be the second city in the country to have a Shinola Hotel, which will be housed in a new 13-story tower. The $300 million project includes a 4,000-capacity music venue, new retail space, and a pedestrian skybridge connecting directly to Gainbridge Fieldhouse (home to the Indiana Pacers and Fever). 

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5. 21c Museum Hotel

150 rooms (anticipated opening: 2028)

Indy’s Old City Hall will be home to this boutique hotel with a public art gallery and a new 32-story tower. The project is estimated to cost $264 million and will include additional mixed-use space. 

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Indy is staying in pole position as an ascending destination for business and leisure visitors. Using recent metrics from STR and Co-Star, Indianapolis ranks on top of the Top 25 Markets for RevPAR YoY growth. This demand is a catalyst for new developments in Indy, $1.46 billion invested in hotel properties (over the next five years) and 1,420 rooms underway.