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...