- Upper-Midscale Full-Service Brand: 171-Room Holiday Inn with On-Site Restaurant, Lounge, and Meeting Space, Operating Under the Globally Recognized IHG brand
- Prime Carmel Location: Positioned in the Affluent North Meridian Corridor Near Major Corporate Employers like Liberty Mutual, KAR Global, and Zotec Partners
- Healthcare-Driven Demand: Close to IU Health, St. Vincent Hospital, and Specialty Medical Providers
- Comprehensive Amenities: Indoor Pool, Fitness Center, Business Center, and Hoosier Grill & Lounge
- Flexible Meeting Space: Approximately 2,160 Square Feet Supporting Corporate Events and Social Functions
- Excellent Regional Connectivity: Easy Access to Downtown Indianapolis and Major Transportation Corridors
- High-Growth Market: Located in One of the Most Desirable and Fastest-Growing Submarkets in the Indianapolis MSA
- Conversion Opportunity: Please Reach out to Listing Agents for More Information
INVESTMENT OVERVIEW
As the exclusive representative of the seller, Marcus & Millichap is pleased to present for sale to qualified investors the Holiday Inn Indianapolis Carmel (‘Hotel’ or ‘Property’) located at 251 Pennsylvania Parkway in Indianapolis, Indiana. The full-service, IHG-branded Hotel is offered on a “Request for Offers” basis. Please reach out to the listing agent for more information.
Situated on approximately 3.75 acres, the Property features 171 guest rooms across six stories totaling approximately 98,383 square feet. The Hotel offers a full-service amenity package including an indoor pool, fitness center, business center, and on-site Hoosier Grill & Lounge restaurant with room service. The Property also features flexible meeting and event space totaling approximately 2,160 square feet, suitable for corporate meetings, weddings, and group events. Guestrooms are well-appointed with microwaves, refrigerators, HDTVs, and complimentary Wi-Fi, catering to both business and leisure travelers. With 232 parking spaces, the Hotel is well-equipped to accommodate corporate guests and group demand.
The Property benefits from a premier location within the North Meridian/Carmel submarket, one of the most desirable and affluent areas in the Indianapolis MSA. Surrounded by major corporate employers, the Hotel is located less than three miles from Liberty Mutual, Bastian Solutions, KAR Global, Zotec Partners, and Belden, generating consistent weekday business travel. The area is also anchored by leading healthcare institutions such as IU Health, St. Vincent Hospital, and regional specialty medical providers, supporting steady medical-related lodging demand. Additionally, the Property is ideally positioned near major sports and event venues including Grand Park Sports Campus and Finch Creek Fieldhouse, which drive significant tournament and youth sports travel. Leisure demand is further supported by regional destinations like Broad Ripple, Butler University, Lucas Oil Stadium, Indianapolis Motor Speedway, and the Children’s Museum of Indianapolis, attracting year-round visitors.
Carmel is consistently ranked as one of the top places to live in the United States, well-regarded for its strong demographics, high household incomes, and robust economic growth. Located just north of downtown Indianapolis, the area benefits from excellent connectivity, a thriving corporate presence, and ongoing mixed-use development. The local economy is anchored by a significant corporate presence and a highly educated workforce, with major employers including Allied Solutions, CNO Financial Group, and GEICO, alongside a concentration of finance, technology, and professional services firms. The broader Indianapolis market enhances demand with key industries such as healthcare, life sciences, logistics, and advanced manufacturing. This diverse employment base generates consistent business travel, supporting weekday occupancy and corporate lodging demand. Carmel’s ongoing mixed-use development further strengthens its appeal as a hospitality destination. Areas such as Carmel City Center and Midtown feature a blend of office, residential, retail, and entertainment uses, creating vibrant, walkable districts that attract both business and leisure travelers. The city also hosts numerous corporate events, conferences, and regional gatherings, contributing to steady group demand throughout the year. With its affluent population, strong corporate base, and continued mixed-use development, Carmel represents a highly attractive and resilient hospitality market within the Indianapolis metropolitan area.
BROKER OF RECORD
Julia Evinger
Indiana
P: (317) 218-5300
Lic #: RB14040143
