Signia Hotel and Convention Center - Development Series #2 (Indianapolis Downtown Submarket])

Continuing with our next video in this development series of the Indianapolis Central Business District, I want to talk about one that I believe is going to have probably the most impact when it comes to our conventions. Of course, that's Insignia by Hilton and the Indiana Convention Center expansion.
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This $710 million project is going to have monumental effects. It’s about ensuring we have top-tier location applications for hospitality and ultimately another major addition to our skyline.
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Breaking Down the Numbers
Completion Timeline: Expected in the second half of 2026.
Construction Jobs: 2,500 jobs during the building phase.
Economic Impact: Almost $300 million annually, according to the Visit Indy website.
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This impact will come from retaining cornerstone conventions such as the FFA, FDIC, and the NFL Combine. We'll get into the numbers regarding attendees and overall visitor counts to the city.
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New Business:
$232 million annually from new conventions.
$69.3 million annually from a new hotel sales team.
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Job Growth and Hospitality Expansion
This project will bring significant job growth to downtown and increased retention for local hotels, restaurants, and attractions. Demand will rise with new visitors coming to the city.
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Current Hotel Capacity
Greater Indianapolis: Around 8,500 hotel rooms.
Downtown CBD District: 7,800 hotel rooms.
New Addition: 800 new rooms, significantly increasing capacity for hosting large-scale events.
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With the expansion, more rooms will be connected directly to the Convention Center. For those unfamiliar, the Indianapolis Convention Center is massive. If you haven’t been to Indianapolis, it’s truly a sight to see.
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Walkability and Infrastructure
The city’s infrastructure, developed during events like the 2011 Super Bowl, supports walkability. From Lucas Oil Stadium to Gainbridge Fieldhouse, walking downtown is seamless.
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Expanded Convention Center
This expansion will add 148,000 square feet, bringing the total to nearly 1 million square feet. This positions Indianapolis to handle any large event comparable to those hosted by major cities.
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Competitive Positioning
While the Convention Center will still be smaller than those in cities like Chicago and Orlando, the added capacity will allow Indianapolis to host 82% of the top 250 trade shows in the U.S. This is a huge milestone, making Indianapolis more competitive with primary markets.
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Hotel Competition
With more hotels emerging, competition will rise. The JW Marriott, the city’s mainstay high-end hotel, set the standard starting with the Super Bowl. More hotels will only benefit consumers by increasing options and capacity for hosting events.
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Short-Term Rentals
Even Airbnb and Vrbo will benefit.
2023 Stats:*
26.9% increase in bookings.
45% jump in revenue.
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Neighborhoods like Fountain Square, Bates-Hendricks, West Washington, and areas near 16 Tech are well-positioned due to their proximity to downtown and the Convention Center.
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Major Events in Indianapolis
Indianapolis has proven its capacity to handle major events, such as:
NBA All-Star Game: Over 150,000 attendees during the weekend.
Gen Con: Over 71,000 attendees.
FDIC International: Over 35,000 attendees.
NFL Combine: Held at Lucas Oil Stadium with related conventions.
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Broader Impacts
The Insignia Hotel and Convention Center expansion will make Indianapolis more viable for conventions, visitors, and as an overall tourist attraction. Investors have also taken note, with more residential and mixed-use developments adding to the city’s appeal.
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Jumha Shatara
SKYRISECRE
317-832-2800
[email protected]
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