Adam’s Mark acquired, may be rebranded-WEB ONLY

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One of the city’s largest
hotels has been acquired and could be in for a major brand change.

 

The Adam’s Mark Hotel
Indianapolis, the area’s sixth-largest hotel, was purchased in April by
Scranton, Pa.-based Nexus Hospitality Management, hotel officials announced
yesterday.

 

San Francisco-based Chartres
Lodging Group LLC sold the 407-room hotel, located near the airport at 2544 Executive Dr.,
for an undisclosed amount.

 

The hotel, built in 1974, likely
will be rebranded in the next nine to 12 months, according to Adam’s Mark sales
manager Cathleen Quigley. While Nexus officials are in discussions with several
brands, converting it into a Wyndham Hotel is a strong possibility, she said.

 

Chartres purchased the local hotel in February 2008 as part
of a five-property acquisition from St.
Louis-headquartered HBE Corp. A planned $18 million renovation was never
completed. Nexus officials said they plan significant upgrades to the facility,
“establishing it as a dominant meeting place within the market.”

 

The hotel has
35,000 square feet of meeting space and a restaurant called The Marker.

 

Nexus officials said they
were attracted to the Adam’s Mark due to its location and the strength of the Indianapolis market.

 

“We truly like the Indianapolis market and its central location within the Midwest,” Nexus Chief Operating Officer Michael Kearney said
in a statement. “This hotel is in a wonderful location, situated very close
between a brand new airport and a thriving downtown.”

 

Nexus, which was formed in
2007, now owns two hotels. The other is the Radisson Lackawanna Station Hotel
in Scranton. Kearney, who has 23 years
in hotel management, said the vision is for Nexus to add two or three hotels to
the fold annually.

 

“We’ve put no cap on how big
we can become,” Kearney
said, “we’re just looking at adding quality properties. We are being very
selective in the properties we acquire.”

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