INDIANAPOLIS, IN – Holladay Properties, a leading full-service commercial real estate company based in South Bend, Indiana, has officially acquired Circle Tower at 55 Monument Circle in downtown Indianapolis, in partnership with Dora Hospitality. The acquisition marks a significant step toward transforming the iconic office building into a premier hospitality destination in the heart of the city.
The property will undergo a substantial conversion of existing office space into a 175-room AC Hotel by Marriott, featuring three floors of commerical space and eleven floors of hotel accommodations. The hotel will be owned and operated by Holladay Properties, with Dora Hospitality serving as the hotel’s management partner.
“This acquisition represents meaningful progress for the project and an important milestone for our team” said Jordan Corbin, Vice President of Development at Holladay Properties. “We are excited to advance the next phase of redevelopment and work alongside Dora Hospitality to deliver a high-quality hotel experience.”
Originally completed in 1929, Circle Tower has long been one of downtown Indianapolis’ most recognizable landmarks, prominently overlooking the iconic Soldiers and Sailors Monument. The redevelopment will preserve the building’s historic character while introducing AC Hotels’ signature European-inspired modern design.
The hotel will include 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 mixed-use development will also maintain and enhance approximately 34,000 square feet of retail, restaurant, and entertainment space at the base of the tower, including tenants such as Rocket Fizz, Potbelly’s Command Coffee, Giorgio’s Pizza, and more.
“Completing the acquisition of the Circle Tower Building is a cause for celebration, as we are one gigantic step further in seeing this project come to life,” said Vincent Dora, President of Dora Hospitality and Project Co-Owner. “The project is moving along right on pace and plans for demo and rehabilitation will begin later this Summer.”
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 5 million square feet of commercial and residential properties. With more than 250 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.