The second-largest hotel in Indianapolis, the Indianapolis Marriott Downtown, is expected to be sold to two companies.
The soon-to-be buyers, White Lodging Services and REI Investments, originally helped to develop the property. According to an article in the Indiana Business Journal, the asking price is $165m. LaSalle Hotel Properties of Bethesda, Maryland, which owns the hotel, said REI and White Lodging have signed a purchase contract, and expect to close the deal later this year.
The Marriott Downtown has 19 stories and 622 rooms, and 33 different meeting rooms totaling 40,000 square feet. Two eateries, the Circle City Bar and Grill, and the Champions Sports Bar & Grill, are also located in the hotel, which is second in size only to another Marriott – the JW Marriott Indianapolis – which has 1,005 rooms. The JW Marriott was also developed by REI and White Lodging.
White Lodging is managing the Indianapolis Marriott, which was built by REI and Kite Development in 2001. LaSalle bought the facility in 2004, and renovated it in 2009. It remained the largest hotel in Indiana until 2011, when the JW Marriott went into operation.
REI's president, Mike Wells, said the property's new owners planned to renovate and refresh it, and added REI was glad to own the property once again, calling it a “great investment and a great hotel.”
Many businesses in the hospitality sector work with printing companies to develop Promotional Products for publicity campaigns.Get a Free Quote for Promotional Products
