Hotel being razed to clear room for new IMS hotel

December 16, 2008

Indianapolis Motor Speedway officials are looking at a plan to build a new hotel, possibly with a new IMS Hall of Fame Museum, sources close to the Speedway say.

IMS officials announced yesterday that the Brickyard Crossing Inn, which is adjacent to the fabled race track, has closed because it would be too costly to upgrade or renovate.

As IBJ reported last month, IMS officials are in talks to move their Hall of Fame Museum from the interior of the oval to a spot just outside the south end of the track, an area that also could house a new hotel. An announcement could come early next year.

That move could fuel a flurry of commercial developments that Speedway town officials hope to start unveiling in the first quarter of 2009.

"At this point, with our hotel and museum, we're in serious discussions," IMS Chief Operating Officer Joie Chitwood said last month. "The hotel is a top priority. The museum now is in a great location, but who knows what the future holds. We're looking at all our options."

IMS officials said yesterday the 96-room motel, built in 1963, would be demolished in the first quarter of 2009.

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