InterContinental Indianapolis

InterContinental Indianapolis opened on February 20, 2025, inside the century-old Illinois Building on Monument Circle, the first new luxury hotel to debut in the city in nearly two decades. IHG's flagship brand takes over a $120 million restoration by local developer Keystone Group, pairing 170 rooms and suites with the city's first rooftop bar and a private-floor penthouse.

The place

The hotel occupies 17 West Market Street in downtown Indianapolis, directly on Monument Circle and a short walk from the Indiana State Capitol, the Indiana Statehouse and the city's convention district. It is one of the most recognizable civic addresses in the state, historically anchored by the neoclassical Illinois Building, which opened in 1925 as an office tower and had fallen onto Indiana Landmarks' list of the ten most endangered buildings in the state before its restoration. Placing an InterContinental there puts the property inside the walkable core that hosts the city's government, banking and cultural institutions, rather than in the newer hotel cluster around the stadiums and convention center to the south. For a market that had not seen a new luxury hotel brand arrive in nearly twenty years, the choice signals confidence in downtown's historic core over a ground-up build elsewhere.

The concept

The project is a restoration rather than new construction: Indianapolis-based developer Keystone Group, led by owner Ersal Ozdemir, spent roughly $120 million converting the Illinois Building's office floors into 170 guest rooms and suites while preserving the structure's 1925 limestone facade and neoclassical detailing. IHG operates the property under its InterContinental brand, marking the flagship luxury label's entry into Indiana and giving the group a downtown anchor distinct from its existing Kimpton and Hotel Indigo presence in the city. Inside, the design plays the building's age against contemporary luxury finishes — Beautyrest mattresses, Byredo bath products, Nespresso machines and walk-in showers feature across the room categories, which range from studio suites built for extended stays up to the city's only private-floor Penthouse Suite and its largest Presidential Suite. Over 5,000 square feet of meeting and event space, including a roughly 2,500-square-foot ballroom, positions the hotel for the corporate and convention business that downtown Indianapolis draws, while the historic address and full-service concierge push toward a leisure guest seeking a landmark stay rather than a generic downtown box.

Dining & wellness

Dining is led by chef Craig Baker across two new concepts: Astrea, a rooftop bar the operators describe as the city's first of its kind, with views over Monument Circle, and Serliana, a second-floor restaurant serving breakfast, lunch and dinner. The ground floor also retains Hyde Park Steakhouse, an existing Indianapolis institution incorporated into the redevelopment. Wellness amenities include a 24-hour fitness center equipped with Peloton bikes and rowers alongside free weights.