Keystone Group Celebrates 100-Day Open Milestone of InterContinental Hotel Indianapolis, Marking a New Era in Midwestern Luxury Hospitality
$121 Million Development Produced First New Luxury Hotel in Nearly Two Decades, Continued Revitalization of Downtown Indianapolis Through Remarkable Visitor and Local Turnout
INDIANAPOLIS, IN, June 13, 2025 — Keystone Group, developer and owner of the luxury hotel, InterContinental Indianapolis, proudly marks the official 100th day open today. InterContinental Indianapolis’ first 100 days represents a strong debut for the city’s first luxury hotel in nearly two decades, following a $121 million construction by Keystone, leading the way in transformational development in downtown Indianapolis.
Indiana Governor Mike Braun highlighted the significance of the project, stating, “InterContinental Indianapolis stands as a testament to Hoosier vision, creativity, and innovation. Keystone’s leading efforts and presence not only serve to strengthen downtown Indianapolis but also reflect the kind of advancement driving our state’s growing tourism and hospitality economy.”
Ersal Ozdemir, Founder and Owner of Keystone Group, reflected on the achievement and his vision for the project: “Celebrating 100 days open, InterContinental Indianapolis exemplifies Keystone’s bold vision to transform downtown through industry-leading redevelopment and design that elevates this City’s rich architectural history. InterContinental Indianapolis not only redefines luxury hospitality in Indianapolis but serves as a paragon of Keystone’s visionary development that serve as catalysts for continued economic growth and urban renewal.”
This milestone underscores Keystone Group’s and the State of Indiana’s commitment to innovation, economic growth, and the revitalization of its capital city, Indianapolis. The century-old historic Illinois Building, now home to the 170-room luxury hotel, was once named one of Indiana’s most endangered historic landmarks. Through shared efforts between several City and Statewide agencies, much of the Illinois Buildings’ significant architecture has been preserved and revitalized to complement the modern luxury aesthetic.
The successful revitalization of InterContinental Indianapolis follows central Indiana’s first office tower to luxury residential conversion, 220 Meridian Tower, Keystone’s award-winning office to luxury redevelopment. Building on that momentum, Keystone recently announced the acquisition of 120 Monument Circle, the most prominent and expansive location on the iconic Monument Circle and just steps from Keystone’s InterContinental Indianapolis and 220 Meridian Tower. Upon opening, InterContinental Indianapolis joined these acquisitions and developments in bringing Keystone’s downtown redevelopment impact to over 1,000,000 in square footage reimagined and over $250 Million in investment within one city block in Indianapolis’ urban core.
True to the InterContinental brand’s ethos of opening doors to fascinating places and fresh perspectives, InterContinental Indianapolis has hosted numerous events and welcomed guests from around the globe in its short time in operation. Since its opening, the property has hit its stride early with the luxury hotel successfully hosting an enormous guest turnout with many sell out weekends supporting global sports tourism events in Indianapolis like the Indy 500 as well as fans traveling to Indianapolis for the Men’s and Women’s Big Ten Tournament, March Madness, and NBA Playoffs. Playing host to incredible occasions, the premier property has quickly become the most desired destination for social and corporate events in the heart of downtown Indianapolis, sitting just steps between the globally recognized, Monument Circle and the Indiana State Capitol.
Located at 17 West Market Street the 12 story hotel features elegantly appointed guest rooms and suites, including the city’s only Penthouse Suite with floor-to-ceiling views of the iconic Soldiers and Sailors Monument and Indianapolis skyline. Amenities include over 5,000 square feet of event space, a 24-hour fitness center, and unique dining experiences including Keystone’s Astrea Rooftop Bar, hosted on a newly added floor, now Indianapolis’ first and highest luxury rooftop experience. Serliana, the second-floor social hub of the hotel offers a fashionable option for guests to enjoy breakfast, lunch, and dinner. Hyde Park Prime Steakhouse at the ground level of the property is a high-end fine dining steakhouse renowned for its premium aged USDA prime steaks, boutique cut Wagyu, fresh seafood, elevated bar menu, and extensive wine and spirits selection. With upscale accommodation, sophisticated interiors, and an unmatched location in the heart of downtown Indianapolis, in just 100 days open InterContinental Indianapolis has set a new standard for luxury hospitality in the Midwest.
About Keystone Group:
Keystone Group, headquartered in the Keystone owned historic Majestic Building for over 20 years in downtown Indianapolis, is a leading privately-owned commercial real estate development and investment firm with over 23 years of expertise in transformational large-scale mixed-use developments. These international award-winning projects display a broad range from multifamily and hospitality, including the recently opened 220 Meridian Tower Residences and luxury InterContinental Indianapolis, to retail to sports- specific development such as the Grand Park Sports District. Keystone Group has also recently announced its acquisition of 120 Monument Circle, with plans to completely redevelop one-fourth of Monument Circle in Indianapolis into a modern live-work-play-stay development. Across all of these projects, Keystone Group’s focus continues to be on executing transformative developments that become catalysts for growth in communities and enrich the regions we serve. Learn more at keystone-corp.com or follow Keystone Group on LinkedIn Facebook Instagram or X for project highlights and updates.
About InterContinental Indianapolis:
InterContinental Indianapolis, the newest luxury accommodation offering in Indianapolis, is setting a new standard for luxury hospitality in the city. Housed within the historic Illinois Building just steps from the iconic Monument Circle and the Indiana State Capitol, InterContinental Indianapolis marks the first luxury hotel debut in the city in nearly two decades. The hotel offers 170 elegant guest rooms and suites, two incredible dining concepts including a rooftop bar, a 24-hour fitness center, and over 5,000 square feet of event and meeting space. A distinct feature is the city’s only Penthouse Suite on a private floor, offering breathtaking views of downtown Indianapolis, as well as the largest Presidential Suite in the city. For more information and to book, visit www.intercontinentalindianapolis.com, and connect with us on Facebook and Instagram.
