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The city's fourth largest hotel has been acquired by a joint venture of Davidson Hotels & Resorts and Silverpeak Real Estate Partners, the companies announced Monday.
The 499-room Hyatt Regency Indianapolis was purchased from Hyatt Hotels Corp., the companies said. Terms of the deal were not announced.
The hotel at One S. Capitol Ave. was built in 1977 and underwent a $20 million renovation in 2012.
Davidson, headquartered in Atlanta, is one of the nation’s largest independent hotel management companies with 39 high-end hotels in its portfolio. The company said it will take over management of the local Hyatt, making it the ninth Hyatt-branded hotel the company manages.
Davidson said it plans more upgrades to the hotel’s guest rooms and lobby, as well as its dining areas and meeting spaces. The hotel is home to the rotating Eagle's Nest rooftop restaurant.
“Davidson has enjoyed a long and successful relationship with Hyatt, and that familiarity will ensure a seamless transition of ownership and management,” Davidson CEO John Belden said in a written statement.
New York-based Silverpeak is a diversified real estate investment manager with more than $14 billion of real estate assets under management.
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