INDIANAPOLIS (June 1, 2025) – Holladay Properties, a leading full-service commercial real estate company based in South Bend, Indiana, announced the redevelopment of Circle Tower at 55 Monument Circle into a 175-room AC Hotel by Marriott, featuring 3 floors of commercial space and 11 floors of hotel accommodations. The hotel will be owned and operated by Holladay Properties, in partnership with local hotelier Dora Hospitality.
The 175-room AC Hotel by Marriott, rising above 3 stories of commercial space, will feature thoughtfully designed amenities including a state-of-the-art fitness center, an eleventh-floor outdoor terrace, and food and beverage offerings in the AC Lounge® and AC Kitchen. The new hotel is expected to meet the rising demand for both business and leisure accommodations fueled by the continued growth and revitalization of the downtown Indianapolis market.
Located in the heart of downtown Indianapolis, Circle Tower offers premier access to the city’s vibrant core, with unparalleled views overlooking the iconic Soldiers and Sailors Monument. The property is steps away from a dynamic mix of office buildings, restaurants, retail, entertainment venues, and cultural institutions. In addition to the AC Hotel by Marriott, the mixed-use development will deliver an immersive downtown experience with approximately 34,000 square feet of retail, restaurant, and entertainment space, including tenants such as Rocket Fizz, Potbelly’s, Command Coffee, Giorgio’s Pizza and more.
“This redevelopment is about more than restoring a historic building – it’s about reinvigorating Monument Circle as a place for people to connect, stay, and experience the best of Indianapolis,” said Jordan Corbin, Vice President of Development at Holladay Properties. “We’re proud to contribute to the continued vitality of downtown and to create a destination that reflects both the city’s heritage and its future.”
The new AC Hotel by Marriott will blend the building’s historic architecture with the brand’s signature European-inspired modern design, delivering a distinctive experience that balances contemporary elegance with lasting comfort, qualities have made AC Hotels a customer favorite for both short and extended stays.
Located in the heart of downtown Indianapolis, Circle Tower offers premier access to the city’s vibrant core, with unparalleled views overlooking the iconic Soldiers and Sailors Monument. The property is steps away from a dynamic mix of office buildings, restaurants, retail, entertainment venues, and cultural institutions. In addition to the AC Hotel by Marriott, the mixed-use development will deliver an immersive downtown experience with approximately 34,000 square feet of retail, restaurant, and entertainment space, including tenants such as Rocket Fizz, Potbelly’s, Command Coffee, Giorgio’s Pizza and more.
“This project is deeply special — not just for Dora Hospitality, but for Indianapolis. We’re honored to bring the first boutique hotel to Monument Circle, right in the heart of our city. The Circle Tower Building has long been a landmark and transforming it into an AC Hotel by Marriott allows us to preserve its historic character while introducing a stylish, modern hospitality experience,” said Vincent Dora, President of Dora Hospitality and Project Co-Owner. “With many guest rooms — and a rooftop bar — overlooking the Soldiers and Sailors Monument, this hotel will offer something truly unique. The AC brand is the perfect fit for this space, seamlessly blending into the building’s architecture and adding to its timeless appeal. We’re proud to play a role in revitalizing this iconic corner of downtown and can’t wait to welcome guests into a space that celebrates both the past and the future of Indianapolis.”
The redevelopment is expected to begin next year.
About AC Hotels by Marriott
AC Hotels by Marriott®, a lifestyle brand that celebrates a new way to hotel complemented by a European soul and Spanish roots, boasts more than 100 design-led hotels in 14 countries and territories. Design-driven AC Hotels by Marriott® edit away the unnecessary to remove friction, providing thoughtfully designed moments of beauty, allowing guests to focus on what’s important to them. The properties’ modern design for modern business include buzzing AC Lounges, the perfect place for locals or visitors to get work done in style or to enjoy handcrafted cocktails and tapas. High-design guest rooms and public spaces with sleek furnishings and intuitive technology features such as the Media Salons and AC Libraries inspire and connect. AC Hotels by Marriott® is proud to participate in the industry’s award-winning loyalty program, Marriott Rewards®, which includes The Ritz-Carlton Rewards®. Members can now link accounts with Starwood Preferred Guest® at members.marriott.com for instant elite status matching and unlimited points transfer. For more information, visit ac-hotels.com and follow us on Facebook, Twitter, and Instagram.
About Dora Hospitality
The Dora Hospitality Group represents over 60 years of hotel ownership and management expertise, continuing the legacy of the Dora Family as hoteliers who operate their business firmly grounded in family values. They develop and operate both branded and boutique hotels, with a focus on the Midwestern United States, and are known for their personal, individualized attention to every property. For more information, please visit www.dorahg.com or connect with them on Facebook & LinkedIn.
About Holladay Properties
Holladay Properties is a leading full-service commercial real estate firm specializing in development, design/build, property management, and more. Holladay Properties owns $1.2B in assets across all real estate classes and manages 4 million square feet of commercial and residential properties. With more than 275 employees in a variety of specialties throughout the eastern half of the U.S., they have the knowledge, experience, and people to complete any type of project for any kind of client. For more information, please visit www.holladayproperties.com.