INDIANAPOLIS—Hilton Worldwide officials say that Home2 Suites by Hilton will develop a new hotel in the former Consolidated Building here. The mid-tier, all-suite hotel brand targets business travelers and extended stay guests. As reported in GlobeSt.com, the brand has recently expanded in several urban markets including Philadelphia and Minneapolis. This will be the first Home2 Suites property in Indiana. The hotel will be owned by HRC Hotels, LLC and managed by Good Hospitality Services, Inc.
It seems like a good time to launch such a project in Indianapolis. In the third quarter, the downtown saw stronger leasing velocity and improved fundamentals in all classes of office space, according to a recent report by Cassidy Turley.
“It was another very strong quarter for the Indianapolis office market, and I was particularly pleased to see tenant expansions and new leasing continue to accelerate,” said Jason Tolliver, regional vice president in Cassidy Turley's Indianapolis office. “It is also very encouraging to see that job openings in important office sectors are rising, suggesting the strong employment trends that have propelled the Indianapolis recovery will continue to strengthen.”
“Visitors to Indianapolis want to be in the center of it all, and the new downtown Home2 Suites will help meet the growing demand for modern accommodations in the city's urban core,” said Bill Duncan, global head, Home2 Suites and Homewood Suites. “Our flexible prototype allows developers to take advantage of opportunities like this one, retrofitting an existing building with our hotel and introducing our unique and sustainable approach to business and leisure travelers.”
The hotel will feature 102 suites on seven floors within the annex of the Consolidated Building, which was built in the 1950's and most recently housed offices and retail spaces. It will complement the new apartments, retail and restaurant spaces which will fill out the rest of the historic site.
Construction is expected to begin in 2015 with the property opening in 2016. Since the brand launched in 2011, Home2 Suites has opened adaptive reuse properties in San Antonio and Baltimore, and has 2 more in the works for 2015.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
