Keystone Group has acquired the 378-room Sheraton Indianapolis City Centre Hotel located in downtown Indianapolis’ Monument Circle. The company plans to transform the property into the Renaissance Indianapolis.
“Downtown Indianapolis is entering a new era of growth and international visibility, and hospitality will continue to play a defining role in its next chapter,” said Ersal Ozdemir, founder/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 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. 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.”
The company plans to introduce a multiphase series of enhancements to the property, including:
- The first rooftop bar and pool concept in Indiana, offering views of the downtown skyline, Monument Circle and the Soldiers and Sailors Monument
- Major improvements to the 537-space public parking garage
- Luxury upgrades throughout all interior and exterior spaces, including completely redesigned guestrooms and suites across all 378 keys
- A signature ground-floor restaurant and new lobby coffee shop and café
- A pedestrian skywalk connection with 120 Monument Circle
- A comprehensive façade restoration
- Upgraded ballroom and event spaces
- Reinvented grand arrival and lobby experience.
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.
