MERRILLVILLE, Ind., July 18, 2016 /PRNewswire/ -- The original developer of the Indianapolis Marriott Downtown closed last week on the purchase of the hotel, reacquiring a property it developed and opened more than 15 years ago.
Affiliates of White Lodging Services Corporation and REI Investments purchased the 622 room hotel and plan an extensive renovation for the hotel, scheduled to begin in the first quarter of 2017. While White Lodging has managed the hotel since its inception, the reacquisition allows for the company to keep the property in its portfolio for years to come.
"This acquisition is a reaffirmation of our long term commitment and belief in the downtown Indianapolis market and we are thrilled to regain ownership of the Indianapolis Marriott Downtown" said Deno Yiankes, President & CEO, Investments and Development for White Lodging. "The ability for us to market this property, along with the JW Marriott complex, as a 2,250 guestroom destination offering over 140,000 square feet of meeting and event space will be a compelling advantage not only for our sales team, but for the City of Indianapolis as well."
White Lodging will strengthen the property's already dominant position within the market even further through a complete modernization and renovation of all guestrooms, suites, additional upscale meeting space, lobby and food and beverage outlets.
The renovation will include 10 additional guestrooms as well as two new restaurants with open air seating and a reconcepted lobby bar.
The design of the new guestrooms, called Marriott Modern, embraces the ideal of creating contemporary yet warm spaces that are locally influenced. The design was focused on the next generation traveler with an emphasis on lighting and technology as well as reinvented bathrooms.
Connected to the Indiana Convention Center and State Parking Garage, the Indianapolis Marriott Downtown was originally developed and owned by White Lodging, REI Investments and Kite Companies and opened in February 2001. White Lodging has continuously managed the hotel since its inception. The hotel currently offers more than 40,000 square feet of flexible meeting and event space with two restaurants and convenient coffee at Starbucks.
Business travelers can stay productive with Wi-Fi access, a full-service business center and easy access via Skywalk to the Indiana Convention Center. Travelers can enjoy the concierge lounge, a renovated fitness center, 24-hour room service and mobile check-in.
As a result of eco responsible efforts, the hotel was officially named a Certified Green Hotel by environmental non-profit Green Seal. The hotel is the first hotel in Indianapolis and one of five Marriott hotels to earn the certification. The organization's Green Seal Standard for Hotels and Lodging Properties is one of most rigorous in the hospitality industry, requiring compliance with waste management, energy efficiency, water conservation, wastewater management and green procurement standards.
The NCAA Hall of Champions, White River State Park, Lucas Oil Stadium, Eli Lily's world headquarters and more are located within just a few minutes of the hotel.
Via the skywalk, the hotel is connected to four other White Lodging-managed properties downtown, allowing for easy connection to the JW Marriott, Courtyard, SpringHill Suites and Fairfield Inn Indianapolis Downtown. The complex includes nearly 2,500 rooms and more than 140,000 square feet of meeting space, as well as six restaurants and bars.
White Lodging Services Corporation was established in 1985 and is headquartered in Merrillville, IN. White Lodging is a fully integrated hotel ownership, development and operations company focused on developing and operating premium-branded hotels in growing urban markets across the United States. The company is a recognized leader that has defined and cultivated the ability to achieve consistent, sustainable growth among mid- to large-scale hotels. White Lodging has developed over 125 premium branded hotels over the last 25 years and its current managed portfolio consists of 165 hotels in 19 states including representation of the following leading brands: Marriott International, Inc., Hilton Worldwide, Hyatt Global, Starwood Hotels and Resorts, Preferred Hotels & Resorts and InterContinental Hotel Group.
REI Real Estate Services – was established in 1994. Headquartered in Carmel, Ind., the company has developed well over $1 billion worth of hotels, office buildings and apartments in Indianapolis and throughout the country. REI Real Estate Services provides a full range of real estate services to local, regional and national clients, seeking to build long-term relationships which build value for all parties involved.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/white-lodging-closes-on-purchase-of-indianapolis-marriott-downtown-300299687.html
SOURCE White Lodging Services Corporation