IBJNews

New airport-area hotel will be rarity in market

Back to TopCommentsE-mailPrintBookmark and Share

Hotel construction outside downtown has been rare in the metro area since the recession took a big bite out of business travel and tourism.

But the building of a $12 million Holiday Inn near Indianapolis International Airport might be signaling the start of a turnaround.

South Bend-based Holladay Properties is partnering with locally based Schahet Hotels Inc. to develop the hotel. Construction started in April and should finish by February, in time for the city’s hosting of the NCAA men’s basketball Final Four in April 2015, said Chris Wilkes, a partner of Holladay Properties.

“What we are seeing with the rebound in the economy is more demand in the hotel segment,” he said. “That’s why we saw an opportunity to launch the Holiday Inn, when all the economic indicators are trending in the right direction.”

holiday inn ameriplex 15colThe full-service, five-story Holiday Inn will total 82,000 square feet and feature 122 rooms. (Image courtesy Holladay Properties)

Holladay Properties is developing AmeriPlex-Indianapolis, one of the area’s largest industrial parks based on rentable square footage, near the airport and south of Interstate 70 on the far-west side. A portion of the park includes a 17-acre commercial and retail development called Stansted Landing that so far has attracted a free-standing Subway restaurant.

Holladay Properties and Schahet (pronounced shock-it) are building the Holiday Inn on the west side of Ameriplex Parkway in Stansted Landing, where Holladay also in discussions with a few restaurants and service-station providers, Wilkes said.

Across Ameriplex Parkway to the east, Schahet already operates the Hampton Inn & Suites, which opened in October 2008, and Hilton Garden Inn that followed in November 2008, as the recession gained steam.

Hotel construction otherwise has been relatively quiet, except for the opening of the downtown JW Marriott in February 2011 and The Alexander at CityWay in January 2013.

The full-service, five-story Holiday Inn will total 82,000 square feet and feature 122 rooms, in addition to 3,500 square feet of meeting space and a restaurant and sports-themed bar.

Both Holladay and Schahet are interested in attracting even more hotels to Ameriplex, which still has about 225 acres of undeveloped land. High on the list is a Residence Inn, to complement the other lodging options.

“First we want to see what the Holiday Inn does and get that stabilized, but we’re confident it will do well,” said Greg Schahet, the company’s president and chief financial officer. “Once we see that, there should be another opportunity.”

Including the Holiday Inn and a Double Tree by Hilton under construction in Schenectady, N.Y., Schahet will operate 11 hotels, all but two in the Indianapolis area. Its holdings include the downtown Hampton Inn and another Hampton in Carmel on North Meridian Street south of West Carmel Drive.

The Holiday Inn and two existing hotels in AmeriPlex represent an attempt to capture airport traffic from the new midfield terminal that opened in February 2009 with a reconfigured entrance and exit off Interstate 70.

About 2,200 rooms are spread among 14 hotels in the vicinity of the old terminal, said Mark Eble, regional vice president of San Francisco-based PKF Consulting/Capital. Whether that much hotel development sprouts up in AmeriPlex or other areas surrounding the airport remains to be seen.

“Unfortunately, we have this beautiful billion-dollar airport that hit the market as the economy was going down and the airline carriers were consolidating,” Eble said. “People are still trying to game out what the right hotel combination is at the airport.”

Another new hotel planned for the metro area is a 10-story Drury Plaza Hotel, with freestanding restaurant, that St. Louis-based Drury Hotels plans to build at the northeast corner of Meridian and 96th Streets, just south of Interstate 465. The hotel, with 304 rooms, is expected to open in late 2015.
 

ADVERTISEMENT

  • what??
    how is this a rarity? Theres a brand new sleep inn that just opened on 16th street downtown.. Theres a courtyard by marriott under construction about to open. Theres a hilton garden inn in zionsville just opened a year or 2 ago

Post a comment to this story

COMMENTS POLICY
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
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Good Day I am Mr (Victoria Wright) from United state of America, i stayed in NEW YORK, and i have a broke up business, until i found this company email who help me to gain a loan for business,, and now i want to used this short medium to congratulate the below company for the fast and safe money they loan to me without any form of collateral, i loan 500,000USD from the company to save my business and lots more, i saw their mail on the internet, everyone always give testimony for what they did, so i quickly contacted them and they all did everything for me without stress and my money was sent to my account just 3 days later, i was surprise and i feel so glad, now i have a standard business control agent who help me, now i will advice those who need urgent loan to contact him at the bellow email:zenithfirm12@gmail.com

  2. NOTICE:This is to inform the general public that Vampires are real. My name is James Franklyn.,am an agent of vampire,am here to introduce our new world trend to you,a world of vampire where life get easier,we have made so many persons vampires and have turned them rich,you will be assured long life and prosperity,you shall be made to be very sensitive to mental alertness,stronger and also very fast,you will not be restricted to walking at night only even at the very middle of broad day light you will be made to walk.In case you are wildly oppressed by some unscrupulous persons we can still help you fight them.Your protection is assured immediately you join.Just contact the bellow email if you are interested we are here to attend to you anytime you want us. Contact the bellow email for more details. Email:vampirescreed@hotmail.com Sincerely: James Franklyn.

  3. Bravo! Someone else that is willing to speak the truth! Bravo!_____NBCSN is available in almost 2 MILLION more homes than just a few years ago, but Indycar STILL gets less total viewers than it did just a few years ago when NBC took over Versus. Attendance and ratings cratered with the end of season races (just when the title battle got "interesting" HAH!__________And now...new race in Basilia, where Miles celebrated the "rich history" of Indycar racing there. Rich history? What, 7 events in the 100 years of AOW? Yep, some history. Well, at least its an oval. It's not??? Are you kidding me??? Gosh darn road racin furriners.

  4. PURITY RAY LOAN OFFER........ Have you been denied by your banks,or are you in need of of an urgent loan to pay of your bills we are capable of giving loans @ cheaper rate to interested individuals, student, companies and members of the public in need of finance to settle bills, we do offer considerable loans which you can count on. For more information on our various types of loan,then you will have to contact PURITY RAY LOAN FIRM, to help you achieve your desire LOAN APPLICATION FORM TO BE FILLED BORROWERS INFORMATION * Full name:………………………. * SEX * ……………………………. * Country………………………….. * State:……………………………. * Land:…………………………….. * Occupation:…………………….. * phone number:…………………. * Telephone: ………………………….. * Age:………………………………. * Amount needed as loan:……… * Loan Duration:………………….. * Propose of Loan:……………….. * Annual revenue:………………… * Monthly Income:……………….. * Guarantee:………………………. * Payment: monthly or annually Email.....purityrayloanfirm@gmail.com Thank you and God bless Mr Purity Ray PURITY RAY LOAN FIRM we tend to serve you better

  5. Problem: most of the people responding to this article don't know about this service AT ALL! Why? Lack of awareness. This isn't IndyGo. This is CIRTA: might as well be the mattress company because they are asleep at the wheel - something like 3 directors over the last year? Playing with federal grant money is great! This "region" wants commuter rail service, has spent MILLIONS on Transportation studies yet can't even support a commuter bus line? This is largely for suburban riders to get to downtown - not for "service people to work in our hotels and restaurants" ! Get your head out of your backside!! These are professionals, students etc. that don't want to fight traffic, save some money on parking, gas, stress.... if CIRTA would put their federal money into widely promoting the sevive to Greenwood, Fishers & Carmel instead of finding directors and studies - this would be a successful service. Our family uses(d) it daily for the last several years - but the recent uncertainty & now unreliability due to cuts from Carmel has been a problem. Now, costs us an additional $350/month for gas & parking ( $4200/year) plus vehicle wear, service, environmental impact ... YES - this REGION needs this this type of service in order to keep growing and getting the people it needs to fill skilled positions in downtown Indianapolis. Think outside of your own car !!!

ADVERTISEMENT