INDIANAPOLIS
A Hyatt Hotels affiliate has sold the 499-room Hyatt Regency Indianapolis to a private equity joint venture for approximately $71 million.
The joint venture members include Silverpeak Real Estate Partners, a privately held real estate investment advisory business, and executives of Davidson Hotels & Resorts, who plan to spend approximately $4 million in additional capital expenditures over the next three years. As part of the sale, a Hyatt affiliate has entered into a franchise agreement with the purchaser and the hotel will retain its Hyatt Regency branding.
The property is near numerous local attractions, including the Children's Museum of Indianapolis, Conner Prairie Interactive History Park and the Indianapolis Motor Speedway and is just 10 miles from the Indianapolis International Airport.
Located at One South Capital Avenue in historic downtown Indianapolis, the 22-story hotel shares an atrium with the PNC Center and is connected via climate-controlled walkway to the Indianapolis Convention Center, Lucas Oil Stadium, Circle Center Mall and the Arts Garden.
Hotel amenities include more than 35,000 square feet of meeting space, indoor pool, 24-hour Stay Fit gym and cardio center and bicycle rentals. The hotel also offers four dining options: One South, serving breakfast and lunch, Level One lounge, a full-service Starbucks and the rotating Eagle's Nest rooftop.
