KEYSTONE GROUP ACQUIRES SHERATON INDIANAPOLIS CITY CENTRE, WILL TRANSFORM INTO RENAISSANCE HOTEL, EXPANDING ITS VISION FOR MONUMENT CIRCLE
Keystone Group announced today the acquisition of the 378-room Sheraton Indianapolis City Centre Hotel, located at 31 W. Ohio St. in the heart of downtown Indianapolis, alongside plans to transform the property into a Renaissance hotel, Keystone’s first hotel under Marriott International’s Renaissance Hotel’s lifestyle brand. The acquisition builds upon Keystone’s demonstrated success executing complex, large-scale and nationally recognized projects. The firm’s growing portfolio reinforces the company’s continued investment in downtown Indianapolis through premier hospitality destinations, luxury apartments, office and elevated retail experiences.
“Downtown Indianapolis is entering a new era of growth and international visibility. Hospitality will continue to play a defining role in its next chapter,” said Ersal Ozdemir, Founder and Owner, Keystone Group. “We view Monument Circle as one of the greatest opportunities in the nation to transform a downtown center through thoughtful investment, elevated design and luxury-driven hospitality. With Keystone’s acclaimed InterContinental Indianapolis, 120 Monument Circle, 220 Meridian Tower and now a new Renaissance hotel, we are intentionally assembling a special neighboring four-property interconnected district.” Ozdemir emphasized, “This acquisition is not about one building. It is about creating a new model for how people live, work, stay and experience Monument Circle as the heart of downtown Indianapolis.”
Keystone Group plans to introduce a multi-phase series of enhancements to the property, including:
- The first rooftop bar and pool concept in Indiana, reimagining the State’s only rooftop pool hotel with panoramic views of the downtown skyline, Monument Circle and the iconic Soldiers and Sailors Monument.
- Major improvements to 537 spaces public parking garage, designed to enhance convenience, improve needed public parking accessibility and support Monument Circle as a premier destination for residents, visitors, eventgoers and downtown patrons.
- Luxury upgrades throughout all interior and exterior spaces, including completely redesigned guest rooms and suites across all 378 keys.
- A signature ground-floor restaurant and new lobby coffee shop and café, designed to activate the street level and create an all-day gathering destination.
- A pedestrian skywalk connection with 120 Monument Circle, offering connectivity between the properties enhancing the guest experience
- A comprehensive façade restoration, renewing the property’s presence as a hospitality anchor in Downtown Indianapolis.
- Upgraded ballroom and event spaces, with design for convention and group business travel at the forefront of design to support convention center business.
- Reinvented grand arrival and lobby experience, aimed to create identity and sense of arrival.
With the opening of the City’s premier luxury hotel, InterContinental Indianapolis last year and the future Renaissance hotel, Keystone is deepening its commitment to elevating downtown Indianapolis. Alongside the opening of the Signia by Hilton convention center hotel and additional hotels entering the market, we are creating greater opportunities for Indianapolis to host world class events solidifying the City’s position as a leading destination.
Construction is anticipated to span approximately two years. Renaissance Indianapolis will remain fully operational throughout the transformation, with renovations phased to minimize disruption to guests and ongoing operations. Guests, meeting planners and event clients can continue to book the property with confidence throughout.
