In Brief: A portfolio comprising a 129-room Holiday Inn and a 98-room Holiday Inn Express & Suites in the Indianapolis area is listed for sale, with the buyer required to assume about $19.6 million in existing debt.
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Holiday Inn and Holiday Inn Express Properties Near Indianapolis Airport Listed for Sale – Image Credit CBRE
Portfolio listed near Indianapolis airport
Two IHG-branded hotels in the Indianapolis airport submarket have been listed for sale as a single portfolio. The properties are the 129-room Holiday Inn Indianapolis – Airport Area N at 5601 Fortune Circle West and the 98-room Holiday Inn Express & Suites Indianapolis W – Airport Area at 5855 Rockville Road.
The combined portfolio contains 227 rooms. CBRE Hotels is marketing the properties, which are positioned to serve travelers using Indianapolis International Airport as well as business and logistics-related visitors to the area.
The sale offering includes existing conduit loans that the purchaser must assume. The outstanding debt across the two hotels totals about $19.6 million. The buyer would also pay a 1% loan-assumption fee.
The remaining loan terms are listed at 36 months for one property and 45 months for the other.
Holiday Inn property details
The Holiday Inn Indianapolis – Airport Area N was built in 1988 and renovated in 2020. The four-story hotel has 129 rooms and a 54,591-square-foot building. It is located at 5601 Fortune Circle West in Indianapolis.
The hotel has 130 surface parking spaces, nearly matching its room count. Amenities include Wi-Fi, a fitness center, a business center, a restaurant, and a meeting room. The property’s food-and-beverage operation is identified as Toast to Toast. It has 784 square feet of meeting space.
The building has a slab-on-grade foundation with perimeter footings, masonry exterior walls, a flat roof, insulated-pane sliding windows, concrete-plank interior floors, and packaged terminal air-conditioning units. It is fully sprinklered and includes two passenger elevators. The electrical system is listed as three-phase, 200-amp service.
The property operates under an IHG franchise license. Management is unencumbered, giving a new owner flexibility in selecting or retaining a management arrangement.
Holiday Inn Express property details
The Holiday Inn Express & Suites Indianapolis W – Airport Area was built in 1996 and renovated in 2023. The hotel contains 98 rooms in a 45,994-square-foot, four-story building at 5855 Rockville Road.
The property has 115 surface parking spaces, complimentary breakfast, Wi-Fi, a fitness center, business center, restaurant, meeting room, and indoor pool. Its meeting space totals 900 square feet.
Like the Holiday Inn, the hotel has a slab-on-grade foundation, masonry exterior walls, a flat roof, concrete-plank interior floors, PTAC units, a full sprinkler system, two passenger elevators, and three-phase 200-amp electrical service. The windows are listed as insulated-pane units.
The hotel also operates under an IHG franchise license, and its management is listed as unencumbered. The recent renovation is among the factors cited in the offering materials.
Airport and logistics market factors
Both hotels are located within the broader Indianapolis airport lodging market. The listing identifies airport traffic, regional transportation infrastructure, and logistics activity as sources of potential lodging demand.
Indianapolis International Airport handled more than 10 million annual travelers in 2024, according to the marketing material. The airport has undertaken projects including Project Gateway and the reopening of Runway 5R-23L. These developments are cited as factors supporting continued airport activity.
The Indianapolis area is also a major logistics center. FedEx cargo operations near the airport highlight the region’s central U.S. location. Such operations can generate stays from airline crews, cargo and logistics employees, contractors, corporate travelers, and other short-term visitors.
The two properties offer different hotel formats within the same brand family. The full-service Holiday Inn includes an on-site restaurant, while the Holiday Inn Express & Suites provides complimentary breakfast and an indoor pool. The listing presents the combination as a way for an owner to serve different guest segments while operating in the same regional market.
Inquire at CBRE.