CIB, Hilton Formalize Agreement For Management of New Signia By Hilton Indianapolis Convention Hotel, Convention Center Expansion
Capital Improvement Board, Hilton Formalize Agreement For Management of New Signia By Hilton Indianapolis Convention Hotel, Convention Center Expansion
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December 7, 2023 (INDIANAPOLIS) 鈥� Two important milestones on the path to construction of the sixth expansion of the 糖心传媒 and new Signia by Hilton Indianapolis have now been reached.
First, the sale of bonds that will help fund construction costs has been completed amid high demand and favorable interest rates.听 The bulk of construction expenses will be funded through proceeds of the bonds, which were sold on November 16th and closed today.
And second, CIB and Hilton officials have signed the management agreement that will allow for Hilton to operate the new convention space and Signia by Hilton Indianapolis.听 The Signia brand portfolio also includes , and the upcoming debut of .
鈥淭he two items we crossed off the to-do list today are much like the foundation work required in construction:听 neither is particularly visible on the outside, but both are of critical importance in making the larger project possible,鈥� said CIB Executive Director Andy Mallon.听 鈥淭hey allow us to continue movement toward the highly visible items we will begin seeing soon and opening the doors in 2026.鈥�
Mallon added, 鈥淭he Signia by Hilton brand is ideal for this expansion project, and having听Hilton signed on to manage the property is the pivotal addition that will take us to the next level of the events industry.鈥�
“The Signia by Hilton Indianapolis will help kickstart the next era of Downtown Indianapolis,” said Mayor Joe Hogsett. “It renews our commitment to an economic resource that has netted Indianapolis billions in revenue. This partnership is one of the ways our city’s economy, and our skyline, continue to grow beyond many of our peers.”
With completion anticipated for the second half of 2026, the ICC expansion will house one of the top-10 convention center ballrooms by size in the U.S. and the additional event space needed to host two citywide conventions at one time. A skywalk over Capitol Avenue will connect the expansion to the existing convention center. 听听One of the unique aspects of the expansion is that it will not disrupt operation of existing convention center space, so events can operate in a 鈥渂usiness as usual鈥� manner during construction.
The 40-story Signia by Hilton Indianapolis will be built on the same site. This new convention-focused hotel will become the tallest in Indianapolis. Once completed, it will bring the total number of hotel rooms connected via climate-controlled skywalks in Indianapolis to more than 5,500, more than any other city in the U.S.
鈥淚ndianapolis is a dynamic city and Signia by Hilton听is a perfect fit for this incredible opportunity in the听heart of Indianapolis,鈥� said Teddy Berlin, brand leader, Signia by Hilton.听 鈥淥ffering a vibrant atmosphere, exceptional听amenities, personalized service and best-in-class meetings and events capabilities, Signia by Hilton听Indianapolis will further enhance the听city’s reputation as one of the premiere destinations in the听United States for sophisticated business, leisure, and group travelers.鈥�
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About the Capital Improvement Board of Managers
The Capital Improvement Board of Managers (CIB) is a municipal corporation of Marion County created in 1965 by the Indiana General Assembly pursuant to the provisions of听, and authorized by the statute to finance, construct, equip, operate, and maintain any capital facilities or improvements of general public benefit or welfare which promote and serve the commercial, industrial, and cultural interests of Indiana and its citizens. The Board may assist, cooperate, and fund governmental, public, and private agencies and groups for these purposes. The CIB operates and/or owns the 糖心传媒, Lucas Oil Stadium, Gainbridge Fieldhouse, Victory Field, Virginia Avenue Parking Garage, and Hudnut Commons, all located in downtown Indianapolis.
