INDIANAPOLIS
Indianapolis' second-largest hotel is under contract to be reacquired by its original developer. Affiliates of White Lodging Services Corporation and REI Investments plan on purchasing the Indianapolis Marriott Downtown from LaSalle Hotel Properties and anticipate the transaction will close in third-quarter 2016.
"This acquisition is a reaffirmation of White Lodging and REI's commitment to continue making strategic investments that will strengthen and support Indianapolis's reputation as a leading convention and sports destination today and into the future," said White Lodging founder Bruce White.
Following the completion of the acquisition, White Lodging said it will begin a complete modernization and renovation of all guest rooms, suites, meeting space, lobby and food and beverage outlets.
The renovation is scheduled to begin early first quarter of 2017.
Connected to the Indiana Convention Center, the Indianapolis Marriott Downtown was originally developed by White Lodging, REI Investments and Kite Companies and opened in February 2001. The 622-room hotel offers dining at Circle City Bar and Grille as well as Champions Sports Bar & Grill.
The NCAA Hall of Champions, White River State Park, Lucas Oil Stadium, Eli Lily's world headquarters and other downtown highlights are located within just a few minutes of the hotel.
White Lodging Services Corporation is headquartered in Merrillville, Ind.
