Everwood Hospitality Partners Completes Acquisition of Former Stockyards Bank Building in Downtown Indianapolis
Officials of Everwood Hospitality Partners (EHP), a leading hotel owner/operator with a growing portfolio of full- and select-service hotels nationwide, announced the company has acquired the former Stockyards Bank Building in downtown Indianapolis. Additionally, EHP released plans to convert the historic building to the 128-room Aloft Indianapolis Downtown. Located at 136 E Market Street, the 12-story structure, built in 1898, has served as law offices, a law library and a bank. Its most recent anchor tenant was Stockyards Bank & Trust.
“The Aloft Indianapolis Downtown will benefit from its irreplaceable address in the heart of the Indianapolis CBD,” said Amit Patel, principal. “The building is situated a few blocks from Bankers Life Fieldhouse and Lucas Oil Stadium, homes to the Indiana Pacers and Indianapolis Colts. The future Aloft Indianapolis Downtown will be blocks away from the Indianapolis Convention Center, Circle Centre Mall, the Capitol Building and the recently opened Cummins Indianapolis Distribution Headquarters, as well as numerous dining and shopping outlets. We're excited to have a hotel that sits squarely in the midst of an exciting, bustling urban setting. The hotel has been designed to meet the needs of the variety of business and leisure travelers to the Indianapolis region.”
EHP plans to begin construction of the Aloft Indianapolis Downtown during the fourth quarter of 2018, with a targeted completion date of third quarter 2019. The hotel will feature “Live at Aloft Hotels” programming on its in-house music stage for local bands. Due to the configuration of the existing building, the Aloft Indianapolis Downtown will feature a unique layout and design for the brand, with a mezzanine level overlooking the hotel bar and music stage. The hotel will feature SPG Keyless—which enables guests to use their smartphone or Apple watch as a room key—and fast and free Wi-Fi throughout the property. Additional amenities include a Re:chargeSM fitness center and Re:fuelSM by Aloft - a one-stop gourmet grab & go food and beverage area. Guests can catch live acoustic performances, mix and mingle and sip on crafted signature cocktails at the W XYZ ® bar.
“The Aloft Indianapolis Downtown will be a perfect complement to our growing portfolio of well-branded, investment grade hotels in submarkets that recreate urbanized environments or central business district assets in vibrant, walkable cities, like Indianapolis,” said Amit Govin, principal. “Everwood remains one of the few independent Marriott owners in the market, and we believe the hotel will benefit from our unique, hands-on approach to improving both the bottom line and the guest experience. The Aloft will be at the forefront of the city's lodging options, and we are confident the hotel will quickly take its place as a segment and market leader.”
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
