HVS Market Pulse: Downtown Indianapolis
The Circle City is currently experiencing a period of growth led by the hospitality sector, sporting events, and citywide conventions, coupled with added jobs and expansions throughout the CBD from companies such as Salesforce, Rolls-Royce, and Eli Lilly. Downtown Indianapolis has welcomed a limited amount of new supply since 2011, experiencing roughly a 4% increase in rooms through year-to-date 2019. As demand continues to grow across all sectors, the new hotel pipeline has grown significantly (up to 20 hotels), with this new supply planned to range from midscale to luxury branded products.