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The high-end Hotel Carmichael in Carmel will undergo an expansion to add 60 rooms, a ballroom and an executive board room, the city announced Wednesday.
Carmel-based development firm Pedcor Cos. plans to spend $10 million to $15 million to expand the hotel across four floors on the north end of the new Wren building, which is attached to Hotel Carmichael. The expansion project will increase the hotel from 122 to 182 rooms.
The Carmel Redevelopment Commission on Wednesday night unanimously approved a public-private partnership with Pedcor on the project that will not require money from the city or the redevelopment commission. Pedcor plans to begin construction this year inside the six-story, 160,000-square-foot Wren building, which opened last year at Carmel City Center. The expansion is expected to be completed in fall 2026.
The addition will feature 60 new guest rooms, including nine double rooms, 30 king rooms and 21 suites, three of which will be presidential suites. The project will also add a 913-square-foot executive boardroom and a 2,052-square-foot ballroom.
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The new boardroom will seat up to 18 people with a designated pre-meeting staging area. The ballroom will have space for 120 people in a banquet setting and 160 people for a reception.
“When we built Wren, we designed it so that we could in fact use at least the northern part of Wren to connect into the (existing) 122 rooms,” Pedcor CEO Bruce Cordingley told CRC members. “Doorways were left structurely so it would work. Elevators were placed so it would work.”
The existing Adagio Lounge Bar in the Hotel Camichael will also be expanded by converting boardroom space to additional lounge seating. The hotel also features Feinstein’s cabaret and jazz club and Vivante Restaurant & Bar.
“Doing the hotel expansion will result in over a million dollars more of net operating income for the hotel a year, every year,” Carmel Redevelopment Commission Executive Director Henry Mestetsky told IBJ.
The Hotel Carmichael, which is across the Monon Greenway from the Center for the Performing Arts, was the brainchild of former seven-term Carmel Mayor Jim Brainard, who first envisioned building a destination hotel for the city decades ago.
The hotel is owned by CCC Boutique Hotel LLC, a public-private partnership between the city and Pedcor. The hotel is managed by Irving, Texas-based Coury Hospitality and is part of the Marriott Hotels Autograph Collection. Luxury Travel Magazine named Hotel Carmichael the 2025 Best Luxury Boutique Hotel in Indiana.
Pedcor Senior Vice President Laurie Siler told CRC members that occupancy rates at Hotel Carmichael increased from 63.3% in 2021 to 82.8% last year, while total revenue at the hotel increased from about $10.2 million in 2021 to about $18.8 million last year.
Room rates at the hotel, depending on the date and room type, range from about $200 a night to $1,900 or more.
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That’s a 50% capacity expansion, so they must be confident in it. The people I know who’ve stayed in the Carmichael have had good things to say.