Downtown Indianapolis adds 116 hotel rooms at 1 N. Meridian St. in 2026. The Motto by Hilton takes the 11-story King Cole building at the corner of Meridian and Washington streets. Ridgeline Development Partners targets a fourth-quarter 2026 completion, seven years after the conversion was announced.
Visit Indy lists the property at 116 rooms with an anticipated 2026 opening. Key count and delivery year are the two figures a day-use seller works from.
The pool the keys enter
Sellers of daytime and hourly inventory price against the downtown room count. The convention centre’s published footer reads 7,100 hotel rooms downtown and 4,700 connected to the building by skywalk. The venue’s facility guide counts 4,721 rooms connected, 7,175 inside a six-block radius and 4,570 committable group rooms downtown. Skywalks link 4,717 of downtown’s 7,200 rooms to the centre and Lucas Oil Stadium.
Visit Indy publishes two connected counts. Its connected-hotels page reads 12 hotels and 5,200 rooms after the expansion. Its new-developments page reads 13 properties and 5,500 rooms.
The occupancy base
Marcus & Millichap’s 1Q 2026 Indianapolis hospitality report forecasts the CBD to hold occupancy near 65 percent through 2026 with a modest year-over-year dip. The report attributes the level to baseline tourism, including the Indianapolis 500. It records ticket sales about 10 percent ahead of the prior year as of February 2026, after a 2025 draw of about 350,000 attendees.
The same report states the convention centre expansion and the connected Signia hotel should improve the city’s competitiveness for large conventions. It describes that as a potential effect and attaches no number to it.
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 centre expansion, 38 stories and an anticipated December 2026 opening. The Kimpton Hotel carries 167 rooms in the historic Odd Fellows building 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.
The Kimpton’s published year is 2027. Only the Motto and the Signia sit inside the 2026 window.
What the two 2026 projects add
Visit Indy dates the convention centre expansion at 143,500 square feet with a 50,000-square-foot ballroom. The venue’s own project page lists the Signia’s hotel meeting space at 90,000 square feet, including a 50,455-square-foot grand ballroom, a 15,668-square-foot junior ballroom and a 9,000-square-foot signature ballroom. The expansion page reads 2,500 construction jobs, 400 new hotel jobs and almost $300 million in annual economic impact.
No published page gives the Motto meeting square footage, banquet capacity or group rate structure.
The cost path
IBJ reported the conversion at $21 million when it was announced before the pandemic. The projection reached $54 million by 2022. Rob Hunden, a spokesperson for The Gettys Group, told IBJ the group expects a figure about 10 percent above its last projection, close to $60 million. He cited construction costs that rose across the board.
The city approved $9.2 million in tax-increment financing bonds for the project in 2022. Gettys anticipates using federal historic tax credits.
What the day-use record carries
The published record carries no daytime rate, no hourly rate and no day-use occupancy figure for the property. A seller pricing daytime inventory in this market works from the venue’s two published counts, the CBD occupancy forecast and the 2026 delivery calendar above. Rate positioning for the King Cole conversion follows its first full trading year.