CIB, Hilton Formalize Agreement For Management of New Signia By Hilton Indianapolis Convention Hotel, Convention Center Expansion

Capital Improvement Board, Hilton Formalize Agreement For Management of New Signia By Hilton Indianapolis Convention Hotel, Convention Center Expansion

December 7, 2023 (INDIANAPOLIS) – Two important milestones on the path to construction of the sixth expansion of the Indiana Convention Center and new Signia by Hilton Indianapolis have now been reached.

First, the sale of bonds that will help fund construction costs has been completed amid high demand and favorable interest rates.  The bulk of construction expenses will be funded through proceeds of the bonds, which were sold on November 16^th and closed today.

And second, CIB and Hilton officials have signed the management agreement that will allow for Hilton to operate the new convention space and Signia by Hilton Indianapolis.  The Signia brand portfolio also includes Signia by Hilton Orlando Bonnet Creek, Signia by Hilton San Jose and the upcoming debut of Signia by Hilton Atlanta.

“The two items we crossed off the to-do list today are much like the foundation work required in construction:  neither is particularly visible on the outside, but both are of critical importance in making the larger project possible,” said CIB Executive Director Andy Mallon.  “They allow us to continue movement toward the highly visible items we will begin seeing soon and opening the doors in 2026.”

Mallon added, “The Signia by Hilton brand is ideal for this expansion project, and having Hilton signed on to manage the property is the pivotal addition that will take us to the next level of the events industry.”

“The Signia by Hilton Indianapolis will help kickstart the next era of Downtown Indianapolis,” said Mayor Joe Hogsett. “It renews our commitment to an economic resource that has netted Indianapolis billions in revenue. This partnership is one of the ways our city’s economy, and our skyline, continue to grow beyond many of our peers.”

With completion anticipated for the second half of 2026, the ICC expansion will house one of the top-10 convention center ballrooms by size in the U.S. and the additional event space needed to host two citywide conventions at one time. A skywalk over Capitol Avenue will connect the expansion to the existing convention center.   One of the unique aspects of the expansion is that it will not disrupt operation of existing convention center space, so events can operate in a “business as usual” manner during construction.

The 40-story Signia by Hilton Indianapolis will be built on the same site. This new convention-focused hotel will become the tallest in Indianapolis. Once completed, it will bring the total number of hotel rooms connected via climate-controlled skywalks in Indianapolis to more than 5,500, more than any other city in the U.S.

“Indianapolis is a dynamic city and Signia by Hilton is a perfect fit for this incredible opportunity in the heart of Indianapolis,” said Teddy Berlin, brand leader, Signia by Hilton.  “Offering a vibrant atmosphere, exceptional amenities, personalized service and best-in-class meetings and events capabilities, Signia by Hilton Indianapolis will further enhance the city’s reputation as one of the premiere destinations in the United States for sophisticated business, leisure, and group travelers.”

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About the Capital Improvement Board of Managers

The Capital Improvement Board of Managers (CIB) is a municipal corporation of Marion County created in 1965 by the Indiana General Assembly pursuant to the provisions of Indiana Code 36-10-9, and authorized by the statute to finance, construct, equip, operate, and maintain any capital facilities or improvements of general public benefit or welfare which promote and serve the commercial, industrial, and cultural interests of Indiana and its citizens. The Board may assist, cooperate, and fund governmental, public, and private agencies and groups for these purposes. The CIB operates and/or owns the Indiana Convention Center, Lucas Oil Stadium, Gainbridge Fieldhouse, Victory Field, Virginia Avenue Parking Garage, and Hudnut Commons, all located in downtown Indianapolis.