Adam’s Mark acquisition closes

San Francisco-based The Chartres Lodging Group LLC announced today that it has completed its purchase of the 406-room Indianapolis Adam’s Mark Hotel.

The group now plans to spend $18 million over the next 18 months to rebrand and renovate the property near Indianapolis International Airport. The company didn’t disclose the new brand the hotel would assume.

The Chartres, then called Oxford Lodging, announced in May that it planned to buy the Indianapolis property and four other Adam’s Mark hotels.

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