Hotel Announcements
Pipeline28 April 2020

Courtyard by Marriott Fishers

Dunn Hospitality to Develop Courtyard by Marriott Within $60 Million Mixed-Use Development Near Indianapolis

Scheduled for half of 2021 – 145 Rooms

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Thompson Thrift Retail Group (TTRG), a wholly owned company of Thompson Thrift, announced today that it has closed on the sale of the hotel pad at The Stations, a $60-million mixed-use development in the Indianapolis suburb of Fishers, Ind. The buyer, Indiana-based Dunn Hospitality, will spend $20 million to build a 145-room Courtyard by Marriott that it plans to open in the latter half of 2021.

The Courtyard will feature meeting space, expansive fitness facilities, an indoor pool, room service and a bistro bar offering sit-down meals throughout the day. The new hotel is expected to accommodate the expanding business and leisure travel needs of the rapidly growing Fishers suburb.

Later this year, TTRG expects to begin construction of a class-A, four-story office building with 60,000 square feet of demisable office space. The building will feature an expansive lobby with elevators, outdoor work areas on the top floor of the building, excellent visibility from 116th Street along with building and street signage opportunities. TTRG is also completing initial site work on the back portion of the property for Pulte Homes to develop 37 three-story townhomes.

With convenient access from I-69 and 116th Street, The Stations offers businesses and travelers a central location with proximity to Indiana's only Topgolf and IKEA, which together attract nearly 1.5 million visitors each year. The Stations is adjacent to Fishers District, a TTRG project with over 100,000 square feet of unique retail and dining options, 260 multifamily units and a 211-room dual-brand Hyatt Place/Hyatt House that was also developed by Dunn Hospitality.

TTRG is a full-service real estate development company focused on ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. During the past 30+ years, the company has invested more than $2.2 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive projects. The master planned Station and Fisher's District projects are reflective of a robust growth strategy focused on areas with impressive demographics and a demand for quality commercial options.

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Brand

Courtyard

Courtyard has long led the industry when it comes to meeting the needs of the modern business traveler. Since breaking into the market 30 years ago as a brand built for business, Courtyard has continuously evolved, pushing the boundaries of design, style and service in the upscale category.
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Management Company

Dunn Hospitality

Dunn Hospitality Group is a development and management company operating both franchised and independent properties including Holiday Inn Express, Hampton Inn, Hilton Garden Inn and Hilton Home 2 Suites in Indiana and Kentucky.
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Brand Owner

Marriott International, Inc.

Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 7,000 properties under 30 leading brands spanning 131 countries and territories.
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