Overview

Description

RI Marketplace Online Auction April 29 – May 1, 2024
Register to Bid on Marketplace:

https://rimarketplace.com/auction/1914/homewood-suites-indianapolis-airport-plainfield?utm_source=brevitas&utm_medium=listing&utm_campaign=hospitality_1914

Hodges Ward Elliott, in conjunction with RI Marketplace, is pleased to offer the 82-room Homewood Suites Indianapolis-Airport/Plainfield enjoys a prime location less than 10 minutes from Indianapolis International Airport, a rapidly growing hub with 145 daily departures and a record 9.8 million passengers in 2023. The Hotel also benefits from Plainfield's role as an e-commerce and industrial hub, hosting major centers for Amazon and Ingram Micro, while also being within a five-mile radius of over 60 million square feet of office and industrial space. Its placement in the airport submarket aligns with strong trends, evidenced by the submarket’s remarkable climb over 2019, with a 17.4% increase over ADR and a 7.6% increase in RevPAR. Additionally, the Hotel is conveniently situated within a 20-minute drive of Downtown Indianapolis, which is currently undergoing substantial new development including over $2 billion invested in tourist-related projects, making the Homewood Suites an ideal choice for both business and leisure travelers.

Dennis Jackson, Auctioneer
IN License: AU01014422

Highlights

• Prime location near the Indianapolis International Airport which experienced a record 9.8 million passengers in 2023
• Offered unencumbered of debt and management
• E-commerce and business hub within a five-mile radius of over 60 million square feet of office and industrial space
• The Homewood Suites has a strategic location in the airport submarket and is within a five-mile radius of 50 million square feet of industrial space.
• A 20-minute drive from Downtown Indianapolis, the Hotel boasts a strategic location, providing easy access to the city center's amenities and attractions, making it an ideal choice for both business and leisure travelers.
• Year End 2023 ADR in the Indianapolis Airport Speedway hotel submarket was up sharply, climbing 17.4% over 2019 levels. Additionally, RevPAR increased 7.6% over the same timeframe.

Documents

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