indianapolis hotel market
Indianapolis Gears Up for Convention and Hotel Expansions
Amy Schmidt | November 10, 2023
By Amy Schmidt, Trey Osadchey While Downtown occupancy in the year-to-date 2023 period remains 5–10% below the 2019 level, the robust convention and citywide event calendar has kept rates high and increased the market rate ceiling. This trend is anticipated to continue given the new higher-rated supply. Market ADR surpassed 2019 levels in 2022, aiding the recovery of RevPAR. According to our research, the Downtown Indianapolis market is achieving RevPAR only 5–10% below the pre-pandemic levels, a positive sign given the delayed return of corporate demand. Convention Center Expansion and New Hotel Supply The Indiana Convention Cent...
On Track for Recovery in Indianapolis
Brian Arevalo | September 27, 2022
By Brian Arevalo Following a record-breaking year in 2019, the hospitality sector in Indianapolis experienced a devasting blow in 2020 because of the COVID-19 pandemic. Downtown Indianapolis was particularly hard hit due to its heavy reliance on citywide conventions, sporting events, and other events to fill hotel rooms. However, as restrictions were lifted and leisure travel, in particular, began to rebound, the market saw improvement in 2021. While occupancy levels remained well below 2019 levels, average rate increased significantly, resulting in healthy RevPAR growth. This rate growth was driven largely by the opening of the Bottlewo...
