Combined, the events were expected to draw in upwards of $35 million in revenue for local businesses, including hotels and restaurants.
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Dora Hospitality Group is teaming with the owner of Shapiro’s Delicatessen to build the hotel at Meridian and Sycamore streets. The project will bring a new IHG hotel brand to Indianapolis.
Read MoreThe deal is the first between Dora and hotel owners Frank and Danette Kennedy, a father-daughter duo, of HC Carmel LLC.
The Fishers-based company lost the Comfort Suites City Centre near Lucas Oil Stadium in a bankruptcy reorganization filed by one of its affiliates, which owed a creditor about $12 million.
The Indianapolis hotel market is poised to record a 10.8-percent increase in revenue per available room in 2012, according to projections from PKF Consulting. The city's hosting of the Super Bowl gave the market a huge, early lift.
Two of Sanjay Patel’s hotels landed in bankruptcy in November. Four others filed for Chapter 11 protection last year.
The hotel on the northwest side of Indianapolis will become the Caribbean Cove Hotel & Water Park on June 13 after more than 30 years as a Holiday Inn.
Minneapolis-based hotel chain AmericInn has purchased a Holiday Inn along Interstate 69 in Fishers, giving the company its first Indiana location.
As revenue per room falls, some hotels outside the center city are going on the auction block.
A Holiday Inn hotel along Interstate 69 just north of 96th Street in Fishers is scheduled to hit the auction block next month
with a suggested opening bid of $1 million.
