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
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.
2. Kimpton Hotel
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
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
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).
Renderings
5. 21c Museum Hotel
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.
Renderings
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.
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