Downtown Indy Hotel Acquired
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowGeorgia-based Davidson Hotels & Resorts is partnering with a real estate investment manager to acquire the Hyatt Regency in downtown Indianapolis. Davidson will operate the 499-room hotel, which completed a $20 million renovation in 2012.
January 26, 2015
News Release
Indianapolis, Ind. — Executives of Davidson Hotels & Resorts, one of the nation's largest, independent hotel management companies, and Silverpeak Real Estate Partners, a privately held real estate investment manager, today announced that its joint venture has acquired the 499-room Hyatt Regency Indianapolis from Hyatt Hotels Corporation. Davidson, which facilitated the transaction, also will operate the hotel, marking the ninth full-service Hyatt branded hotel the company has managed.
“Davidson has enjoyed a long and successful relationship with Hyatt, and that familiarity will ensure a seamless transition of ownership and management,” said John Belden, Davidson's president and CEO. “Hyatt has been exceptional in our relationship, and we're excited to expand our portfolio with a great property like the Hyatt Regency Indianapolis. The property has been an iconic component of the downtown area, and we look to build upon its success. Davidson operates one of the highest quality portfolios in the industry, and the Hyatt Regency will enhance it further.”
“We have been fortunate to initiate a strong partnership with Silverpeak and look forward to aggressively acquiring many other high-quality assets in 2015 and beyond,” Belden noted.
The hotel has undergone significant renovations since 2012. Davidson plans further upgrades to the hotel's guest rooms and lobby, as well as enhancements to food and beverage outlets and meeting space.
Hyatt Regency Indianapolis is convenient to such local attractions as the Children's Museum of Indianapolis, Conner Prairie Interactive History Park and the Indianapolis Motor Speedway and just 10 miles from the Indianapolis International Airport. Located at One South Capital Avenue in historic downtown Indianapolis, the 22-story hotel shares an atrium with the PNC Center and is connected via climate controlled walkway to the Indianapolis Convention Center, Lucas Oil Stadium, Circle Center Mall and the Arts Garden. Hyatt Regency Indianapolis also is within walking distance of the state capitol, Bankers Life Fieldhouse, Indiana University-Purdue University Indianapolis (IUPUI) and the NCAA Hall of Fame. Hotel amenities include more than 35,000 square feet of meeting space, indoor pool, 24-hour Stay Fit gym and cardio center and bicycle rentals. The Hyatt also offers four dining options: One South, serving breakfast and lunch, Level One lounge, a full-service Starbucks (also operated by Davidson) and the rotating Eagles Nest rooftop restaurant, voted one of the “Top 100 Most Romantic Restaurants in the U.S.” by Open Table diners. Guest rooms are equipped with plush Hyatt Grand Bed, an oversized work area and modern amenities like flat-screen televisions.
For additional information, please visit http://www.indianapolis.hyatt.com.
About Silverpeak Real Estate Partners
Silverpeak Real Estate Partners is a full-service, diversified real estate investment manager with over $14 billion of gross real estate assets under management. Silverpeak acquires and manages real estate on behalf of commingled funds, separate accounts and for its own account. Since 2010, Silverpeak, together with operating partners, has acquired over $5 billion of real estate assets in the US, both on a principal basis and on behalf of various institutional investors. The Firm has invested in office, retail, multifamily, hotel and other asset classes.
About Davidson Hotels & Resorts
Davidson Hotels & Resorts is an award-winning, full-service hotel management company that provides management, development/renovation, acquisition, consulting and accounting expertise for the hospitality industry. The company has amassed one of the purest full-service hotel portfolios in the industry, ranging from the upper-upscale to near-luxury segments; encompassing 39 upscale, full-service, independent and branded hotels with nearly 12,300 rooms, and 1.4 million square feet of meeting space across the United States. Davidson is a trusted partner and a preferred operator for Marriott, Hilton, Hyatt and Starwood Family hotels. Additional information on Davidson may be found at the company's website, www.davidsonhotels.com.
Source: Davidson Hotels & Resorts