White Lodging Reacquires Indianapolis Marriott Downtown for $165M

INDIANAPOLIS — The original developer of the Indianapolis Marriott Downtown has reacquired a property it opened more than 15 years ago. Affiliates of Merrillville, Ind.-based White Lodging Services Corp. and REI Investments bought the 622-room hotel from LaSalle Hotel Properties (NYSE: LHO) for $165 million and plan to begin renovations in the first quarter of 2017. White Lodging has managed the hotel since its inception. The renovation will include 10 additional guestrooms as well as two new restaurants and a new lobby bar. White Lodging, REI Investments and Kite Cos. originally owned and opened the Indianapolis Marriott Downtown in February 2001. The hotel offers more than 40,000 square feet of meeting and event space with two restaurants and a Starbucks.