Indianapolis, Indiana
Signia HQ Hotel Market Analysis and Impact Study
The planned construction of a convention headquarters hotel in downtown Indianapolis, Indiana, led to Hunden Partners’ hotel market and impact assessment of the Hilton Signia. The 800-key hotel is due to be completed by 2026.
Situation
Hunden Partners was engaged as part of a larger mixed-use study to conduct a hotel market and impact assessment of the to-be-built downtown Indianapolis convention headquarters 800-room Hilton Signia hotel.
The proposed site, home to the existing Pan Am Plaza, has long been underutilized and targeted for revitalization by the City of Indianapolis, with several proposed redevelopment deals failing to materialize over the years. The 38-story, 800-key publicly-owned hotel will boast a 50,000-square-foot ballroom to be used as the primary ballroom for the Indiana Convention Center, as well as the hotel, and an additional 75,000 square feet of ballroom and meeting space, which will serve as the fourth major connected headquarters hotel to the Indiana Convention Center. With the addition of the Signia, the Indiana Convention Center will have more than 6,000 connected and nearly 8,000 walkable hotel rooms.
Approach
Hunden’s analysis provided a market penetration and inducement analysis, financial pro formas and economic, fiscal and employment impact analysis for the City and the Capital Improvement Board.
Impact
Designed by RATIO/smdp and developed by the Capital Improvement Board and Kite Realty Group, the hotel is expected to break ground in 2024 and be completed by 2026.
