Ravaged Indy hotels in danger of delinquencies, defaults
Experts say hotels of all sizes are under tremendous stress as revenue for many falls below the levels needed for debt payments.
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Developer attributes continued delays on Speedway hotel project to pandemic
Construction has been stalled on the planned 126-room hotel at the southeast corner of Main and 16th Streets since July 2019, while Indianapolis-based development firm Loftus Robinson LLC has tried to shore up financing.
Airport could see lower-than-expected activity for up to 3 years, leader says
Mario Rodriguez, executive director of the Indianapolis Airport Authority, said activity has dropped to as low as 5% of typical operations, with the the facility serving only 14 of its 53 destinations.
Dunn Hospitality planning 145-room hotel in $60M development in Fishers
Evansville-based Dunn Hospitality Group is planning to build a $20 million Courtyard by Marriott near Interstate 69 and 116th Street in Fishers by the end of 2021.
Downtown hotel occupancy fell 91% as health crisis escalated
The entire market saw a 68% drop in occupancy from the week of March 1-7 to the week of March 29-April 4, according to data from Tennessee-based hotel research firm STR.
Crowne Plaza near Indy airport being used as COVID-19 treatment site
State officials declined to provide details on specifically how the hotel is being used—including whether it is a treatment site for homeless individuals—to protect patient privacy.
‘It’s all ruined—there’s no demand,’ hotelier says
MHG President Sanjay Patel has been through tough times in the hotel industry before—but nothing quite like this.
Two biggest hotels in Indianapolis suspend operations
The 1,005-room JW Marriott Indianapolis and 650-room Indianapolis Marriott Downtown closed Monday after they stopped taking reservations late Sunday.
City’s biggest hotels consider closures as industry lobbies for tax relief to ease outbreak impact
The owners of the city’s two largest hotels are considering closing them amid drastic decreases in business caused by the COVID-19 outbreak.
Hoteliers, restaurants brace for loss of revenue from NCAA, Big Ten tourney games
Combined, the events were expected to draw in upwards of $35 million in revenue for local businesses, including hotels and restaurants.
IBJ Podcast: These downtown hotel projects appear stalled
Nineteen hotel projects have been announced for downtown. If every one of them opens, they would add 4,203 more rooms to the central district of Indianapolis. But that’s not likely.
Owner of prime downtown parking lot considering hotel development
A Peachtree official said the company bought the land for the development opportunity and is now “evaluating our options to potentially build on the lot.”
Three downtown hotel projects delayed amid development glut
A trio of hotels in downtown’s construction pipeline have stalled in recent months, raising questions about whether they will ultimately move forward.
Local tourism, convention officials prepare for impact from coronavirus
Officials say no events have been canceled locally, but groups—including the NCAA and Visit Indy—are watching the news and weighing their options.
Carmel City Council directs panel to review Hotel Carmichael cost overruns
The Carmel City Council on Monday voted to have its four-person finance committee look into what led to $18.5 million in cost overruns on the Hotel Carmichael project. It rejected a proposal have the entire council involved in the review.
Huge cost overruns on Carmel hotel fuel questions about construction costs
The cost of the 122-room, city-backed hotel has swelled to $58.5 million, up from $40 million when the Carmel City Council green-lighted it two years ago. Some councilors have called for an audit to dig into the details.
UPDATE: Downtown hotel, parking lots sold for $33M to Atlanta firm
Atlanta-based Peachtree Hotel Group bought the Hampton Inn by Hilton at 105 S. Meridian St. and a 50-car parking lot at 102 S. Pennsylvania St.
Developer plans $30M Tapestry hotel on downtown parking lot
Sun Development & Management Co. originally planned to open the Tapestry hotel in the 12-story Jackson Square building where Ike & Jonesy’s had been located. But Sun now has plans to put a different brand in the building, with work starting within several months, and build the Tapestry across the street.
Town of Speedway announces plans for 25-acre project near I-465
The project is expected to include a 127-room Hampton Inn and conference center, a national grocer, restaurants and retail space, and possibly senior housing and medical offices.
Developer plans eighth floor, 39 more rooms for downtown hotel project
Original plans called for a 99,000-square-foot, seven-story building with 104 Moxy rooms and 102 AC Hotel rooms. The new plan includes 126 Moxy and 119 AC rooms in a structure of just more than 113,000 square feet.