167 Rooms Enter the Day-Use Pool
The Kimpton conversion at 1 N. Pennsylvania St. adds 167 guest rooms to downtown Indianapolis. IBJ puts the cost at $110 million. Key count and delivery year are the two figures a day-use seller works from.
The 18-story Odd Fellows building takes the rooms. It carries a ballroom on its double-height 15th floor, a rooftop bar and a restaurant.
The Pool Those Keys Enter
Day-use inventory comes from standing hotel stock. The Indiana Convention Center publishes 7,100 hotel rooms in downtown Indianapolis and 4,700 rooms connected to the building by skywalk. Its facility guide counts 4,721 rooms connected to the center, 7,175 rooms inside a six-block radius and 4,570 committable group rooms downtown. Skywalks link 4,717 of downtown's 7,200 rooms to the center and Lucas Oil Stadium.
Visit Indy reads 13 properties and 5,500 hotel rooms connected under one roof after the convention center expansion.
The Occupancy Base
Bradford Allen published a read of a Downtown Indy Alliance snapshot on 19 March 2026 that cites CoStar and STR data. Downtown Indianapolis averaged 64.7 percent occupancy against a U.S. average of 62.4 percent. Revenue per available room was $135.20, a 13 percent year-over-year increase and 35 percent above the U.S. average of $99.96. The average daily rate was $209.11, a 12 percent increase and 30 percent above the national average.
On the venue's 7,100 downtown rooms, 64.7 percent occupancy leaves about 2,500 rooms unsold on an average night.
The same read records 8.1 million room nights of demand in the 12 months to mid-2025, more than 580,000 above the market's pre-COVID peak. The construction pipeline at mid-year held more than 1,500 rooms, with 3,402 rooms in final planning and 3,220 proposed.
The Delivery Calendar
Visit Indy dates the downtown pipeline property by property. The Motto carries 116 rooms for 2026. The Signia Hilton Indianapolis carries 803 rooms with the convention center expansion at 38 stories for December 2026. The Kimpton carries 167 rooms for 2027. The Westin at Indianapolis International Airport carries 253 rooms for 2027. The Ritz-Carlton carries 176 rooms for 2028. The Renaissance conversion of the Sheraton Indianapolis City Center carries 378 rooms for 2028.
IBJ adds an 800-room Signia figure and a hotel planned inside the Herb Simon family's redevelopment of the former CSX building across from Gainbridge Fieldhouse.
What an Office Conversion Owes a Day-Use Operator
The 1908 date is arithmetic. IBJ published the building as 117 years old on December 2, 2025, its article date. The same article describes a full conversion of the Rubush & Hunter-designed Odd Fellows building.
IBJ does not itemize the mechanical, electrical, plumbing or life-safety scope the conversion requires. Ask for it before underwriting the delivery. A 1908 office tower brings its own riser space, floor loads and window line, and none of that is published.
The 15th floor is double-height and takes about 4,500 square feet of ballroom and pre-function space, a coat-check area and a bridal suite. The rooftop bar runs on a dedicated elevator and takes about 300 patrons.
The Buildout Gate
A model guest room awaits final approval from Kimpton and IHG before full buildout on the rooms moves forward, Johns told IBJ. That approval gates the room count the pipeline arithmetic turns on.
What the Day-Use Record Leaves Open
No publisher carries a daytime rate, an hourly rate or a day-use occupancy figure for the property. A seller pricing daytime inventory in Indianapolis works from the venue's two published counts, the occupancy snapshot and the delivery calendar above.