The Gen Con Indy gaming convention and the MotoGP race are among several events the city is hosting that could produce an economic impact of $150 million, according to the Indianapolis Convention and Visitors Association.
Helped in part by the Super Bowl, the county’s occupancy rate increased 8.4 percent, to 63 percent, compared with the first six months of 2011, according to a report by Tennessee-based Smith Travel Research.
Downtown is short of the four- and five-star hotel rooms preferred by National Football League sponsors and partners for a 2018 Super Bowl host, but local tourism officials are hesitant to add more hotel space just to secure a second Super Bowl.
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.
The maker of luxury soaps and other hotel toiletries has moved its headquarters from Indianapolis to a bigger facility in Plainfield, where it plans to add 40 employees within six months.
Indianapolis Mayor Greg Ballard has vetoed a proposed ordinance aimed at hiring practices by local hotels, the mayor's office announced Thursday afternoon.
Officials are emboldened by the financial results of the city’s first time hosting the NFL championship game in February, which produced a direct economic impact of $176 million, according to a study commissioned by the Indianapolis Super Bowl Host Committee.
Indianapolis hotels could no longer ban contract workers from direct employment under an ordinance passed Monday night by the City-County Council.
CIB and city tourism leaders say that the money was well spent considering the game could translate to $300 million in direct visitor spending over the next several years.
The National Art Museum of Sport is considering leaving Indianapolis, a possible move stemming from the planned conversion of its home at University Place Conference Center and Hotel into a student residence hall for IUPUI.
In a stunning move, IUPUI has decided to close the University Place Conference Center and Hotel on West Michigan Street and will use the space for student housing, dining and classrooms.
Ball State University plans to build a $25 million hotel in a building that will also have student-housing space, conference rooms and two restaurants.
Speculation is deemed premature despite rising occupancy rates.
The annual Fire Department Instructors Conference attracts nearly 30,000 visitors to downtown. But with Race for the Cure on Saturday, demand for hotel rooms is even stronger, particularly toward the end of the week.
Preliminary financials show the board that manages the city’s sports and convention facilities so far has lost nearly $350,000 due to the Super Bowl. That figure is expected to grow to $800,000.
NCAA swimming championships being held at the IU Natatorium this week kick off six years of collegiate swimming championships that are expected to generate millions of dollars for the local economy.
Curators have selected 24 contemporary artists to create work for hotel, to be known as The Alexander.
The hotel, owned by an affiliate of Dora Brothers Hospitality Corp., says its largest creditor is New York-based German American Capital Corp., which is owed $12 million.
After winning national praise as the host of Super Bowl XLVI, Indianapolis has a shot at four major conventions planned for next year and beyond.
There’s no doubt the Super Bowl crowds showered Indianapolis with cash all week. The question is, how much of it will stick after the big game is over? And how much will it mean to Indianapolis’ economy?
