Buyer lined up for Caribbean Cove hotel, water park

Back to TopCommentsE-mailPrintBookmark and Share

The owner of the Caribbean Cove Hotel & Water Park on the northwest side of Indianapolis will close the property in October if a pending sale falls through.

Locally based General Hotels Corp. has notified the Indiana Department of Workforce Development, in a letter posted on the agency’s website Thursday afternoon, that the hotel could close on Oct. 9.

A closure would put 206 employees out of work, including 36 water park lifeguards, General Hotels said.

A sale, however, should be completed on Sept. 12, said Glenn Brooks, General Hotels’ vice president of sales and marketing.

“That’s what we’re hoping and expecting at this point,” he said.

Brooks declined to divulge the potential buyer but said the company is a veteran operator of water parks.

The announcement of a potential sale comes just a few months after General Hotels announced that it was dropping the popular Holiday Inn brand from the hotel in favor of flying solo.

The 344-room hotel on Michigan Road had been a Holiday Inn for more than 30 years.

Brooks said the hotel officially was for sale at the time of the name change. He attributed General Hotels’ decision to unload the hotel to a weak economy and increased competition.

General Hotels added the 50,000-square-foot water park to the property in 2004, boosting weekend hotel occupancy. But, in the seven years since, water parks have opened in French Lick and Shipshewana, as well as in Cincinnati and Columbus, Ohio, and several in the Chicago area.

“We’ve been dealing with this economy for several years and, at the same time, water parks were growing,” he said.

The property was developed by Jim Dora Sr. and opened in 1979 as a Holiday Inn. It’s been managed by General Hotels since.

The hotel also features 16,000 square feet of meeting space, two restaurants and an indoor recreation center.

General Hotels owns and operates 10 hotels in Indiana, including the following local properties: the downtown Crowne Plaza at Historic Union Station and Holiday Inn Express on South East Street, as well as the Crowne Plaza near Indianapolis International Airport. Jim Dora Jr. operates three additional hotels under contract.



  • Indoor Water Parks
    Indoor Water Parks are the perfect mini vacation for my family! Not only are my kids obsessed with water parks, but they’ve also been disappointed numerous times by cancellations due to bad weather for planned trips. That’s why we plan day trips as well as weekend trips to this AMAZING indoor water park! Now we all count down the days until we go and never have to worry about rain! I couldn’t recommend them more!
  • Kalahari Resorts
    Based on the job posting for a food-beverage manager for Kalahari Resorts (Wisconsin Dells) to be located in Indianapolis, my guess is they're the ones buying Caribbean Cove.
  • Great Wolf Lodge
    The article said the buyer is someone who's a waterpark veteran. My guess is Great Wolf Lodge...
  • Rates
    If it were not so expensive to go to the water park we wouldn't mind the drive from Fort Wayne. If they lowered the rates, then more people would be able to go. It is a great indoor water park.

Post a comment to this story

We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
You are legally responsible for what you post and your anonymity is not guaranteed.
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
Subscribe to IBJ
  1. Really, taking someone managing the regulation of Alcohol and making himthe President of an IVY Tech regional campus. Does he have an education background?

  2. Jan, great rant. Now how about you review the report and offer rebuttal of the memo. This might be more conducive to civil discourse than a wild rant with no supporting facts. Perhaps some links to support your assertions would be helpful

  3. I've lived in Indianapolis my whole and been to the track 3 times. Once for a Brickyard, once last year on a practice day for Indy 500, and once when I was a high school student to pick up trash for community service. In the past 11 years, I would say while the IMS is a great venue, there are some upgrades that would show that it's changing with the times, just like the city is. First, take out the bleachers and put in individual seats. Kentucky Motor Speedway has individual seats and they look cool. Fix up the restrooms. Add wi-fi. Like others have suggested, look at bringing in concerts leading up to events. Don't just stick with the country music genre. Pop music would work well too I believe. This will attract more young celebrities to the Indy 500 like the kind that go to the Kentucky Derby. Work with Indy Go to increase the frequency of the bus route to the track during high end events. That way people have other options than worrying about where to park and paying for parking. Then after all of this, look at getting night lights. I think the aforementioned strategies are more necessary than night racing at this point in time.

  4. Talking about congestion ANYWHERE in Indianapolis is absolutely laughable. Sure you may have to wait in 5 minutes of traffic to travel down BR avenue during *peak* times. But that is absolutely nothing compared to actual big cities. Indy is way too suburban to have actual congestion problems. So please, never bring up "congestion" as an excuse to avoid development in Indianapolis. If anything, we could use a little more.

  5. Oh wait. Never mind.