IBJ: Downtown’s luxury InterContinental hotel opens after $110M rehab
Mickey Shuey
The InterContinental Hotel near Monument Circle is officially open after more than six years of on-and-off construction to the historic Illinois Building.
The 170-room luxury hotel at 17 W. Market St., debuted to the public Monday, with Indianapolis-based Keystone Group capping off a $110 million rehabilitation project that began in 2018.
The 11-story InterContinental features two restaurants, including a 200-seat rooftop restaurant and cocktail lounge known as Astrea that will offer views of the Soldiers and Sailors Monument with a mix of indoor and outdoor seating.
The other restaurant, Serliana Cafe, will be on the second floor and offer smaller food portions and a more lounge-like environment. Longtime local chef Craig Baker was hired in 2024 to lead the kitchen as executive chef.
Room rates for the property start at $287 ($273 for IHG One Rewards members) for a king room featuring a rainfall shower, stocked mini bar and convenient headboard controls for lighting and window shades. A one-bedroom luxury suite with city views starts at $737 a night ($700 for members) and includes a king bed, a living area, deep soaking tub and a rainfall shower as well as a wet bar and mini fridge.
Alongside the Aloft Indianapolis on the opposite end of Market Street, the downtown hotel market inventory is poised this month to climb to 8,784 rooms.
Built in 1925, the InterContinental building is one of several on or near Monument Circle designed by Rubush & Hunter, one of the city’s top architectural firms in the early 20th century. Other prominent buildings from the firm include the Columbia Club and the Circle Tower.
The InterContinental brand was founded in 1946 and is generally considered the world’s first international luxury hotel brand—and among the swankiest. There are about 240 Intercontinental Hotels in more than 60 countries, but only 34 in North America. The nearest is in Chicago.
