Rockbridge to Acquire and Renovate Indianapolis Hotel
Tuesday June 11th, 2013 - 4:33PM G
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INDIANAPOLIS—Rockbridge Partners has acquired the historic, 99-room Canterbury Hotel in Indianapolis, which will also be renovated.
The extensive renovations include opening up and refurbishing the lobby, relocating and expanding the fitness center, and redoing the restaurant and lounge with a new concept. Additionally, the guestrooms and corridors will be refurbished. Guest bathrooms will be totally redone, and guestrooms will feature new furniture and finishes.
The hotel is located adjacent to the Circle Centre Mall and St. Elmo’s Steakhouse in the heart of downtown Indianapolis within walking distance to Monument Circle, the State Capitol, Bankers Life Fieldhouse, Lucas Oil Stadium, in addition to the significant corporate demand generators. Azul Hospitality Group will manage the property.
“The Canterbury is a special property that we plan to revitalize with a significant investment,” James T. Merkel, president and CEO of Rockbridge, said in a statement. “This major re-vamp of the hotel will allow it to remain a local institution while competing effectively with the newer hotels in the strong downtown Indianapolis lodging market. With an excellent location and a comprehensive renovation, this hotel will become a market leader.”
Rockbridge purchased the hotel from Turner Woodard, an Indianapolis entrepreneur and investor, who started the process to reinvigorate the Canterbury in 2010.
“The Canterbury is a special place in the City of Indianapolis and always has been,” said Woodard. “We are proud of the many improvements we’ve been able to make at the Canterbury over the last several years to reenergize the spirit and appreciation for the hotel, and look forward to Rockbridge’s extension of these accomplishments. Our family’s vision for the hotel will be fulfilled a bit more quickly, benefiting our vibrant Indianapolis downtown market.”
Tags: • Hospitality • Construction/Renovation •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.