Staybridge Suites Indianapolis Downtown – Convention Center Listed for Sale Amid Strong Tourism and Business Growth

CBRE Hotels has listed the 113-room Staybridge Suites Indianapolis Downtown – Convention Center for sale, highlighting the property’s proximity to major event venues and its role in the city’s tourism and business sectors.

Property Overview

CBRE Hotels is offering the Staybridge Suites Indianapolis Downtown – Convention Center for sale. The hotel features 113 rooms across eight stories and is located off I-70 in downtown Indianapolis. The property occupies two acres, was originally built in 2003, and underwent renovation in 2019.

The Staybridge Suites is situated next to Lucas Oil Stadium, the home of the Indianapolis Colts NFL team. The stadium features a retractable roof and windows, seats up to 70,000, and includes suites, club lounges, and a direct connection to the Indiana Convention Center. Lucas Oil Stadium has hosted events including the 2024 Taylor Swift Eras Tour, the 2024 U.S. Olympic Swimming Trials, the upcoming 2025 WWE Royal Rumble, and the annual Big Ten Football Championship.

Surrounding Area and Amenities

The area around the hotel is described as a central hub for conventions, retail, entertainment, and business. The Indiana Convention Center, located nearby, offers 745,000 square feet of flexible exhibit space and is integrated into the downtown area through climate-controlled skywalks. This facility is designed to accommodate large-scale events, conferences, and trade shows.

Downtown Indianapolis is a major employment center, anchored by several large corporations and institutions. Companies with a significant presence in the area include JPMorgan Chase, Eli Lilly and Company, Salesforce, Cummins, and OneAmerica Financial. In October 2025, Elanco Animal Health is scheduled to open a $200 million global headquarters west of the Staybridge Suites. The new campus will feature a six-story administration building and two-story laboratory and collaboration spaces, transforming the former General Motors Stamping Plant site.

Indianapolis Market Overview

Indianapolis is characterized by a diverse economy supported by tourism and ongoing development. The city attracts an estimated 30 million visitors each year, with tourism projected to generate nearly $5.8 billion in economic impact in 2024. The Indiana Convention Center is a significant factor in this, offering extensive exhibit space and connections to numerous hotels and thousands of rooms via skywalks.

Beyond conventions, Indianapolis offers retail destinations such as Circle Centre Mall and Mass Ave, as well as entertainment venues including Lucas Oil Stadium and Gainbridge Fieldhouse. Cultural attractions in the city include the NCAA Hall of Champions and the Indiana State Museum.

The downtown office market is the largest employment cluster in the state. In 2024, the overall metropolitan office vacancy rate was 22.29%, while the downtown submarket reported a 19.42% vacancy rate. Average asking rents in the downtown area were approximately $30.26 per square foot.

Major employers in the city contribute to a strong local workforce. The metropolitan area is also home to 25 colleges, universities, and technical schools that support talent development.

Demographics and Connectivity

According to the 2020 census, Indianapolis has a population of over 887,000, making it the 16th most populous city in the United States. The metropolitan area includes about 3.2 million residents.

Indianapolis International Airport (IND) reported a record 10 million travelers in 2024, supporting both business and leisure travel to the city.

Summary

The Staybridge Suites Indianapolis Downtown – Convention Center is being offered for sale by CBRE Hotels. The property’s location near major event venues and employers, along with Indianapolis’s strong tourism and business environment, are highlighted as key factors in the offering. The hotel’s proximity to the Indiana Convention Center and Lucas Oil Stadium, as well as its integration into a growing urban core, positions it as a notable asset in the Indianapolis hospitality market.

Inquire at CBRE.