Keystone Group Plans for Major Renovations at Sheraton Hotel

The Keystone Group recently acquired the 378-room Sheraton Hotel in downtown Indianapolis.

Aerial view of Indianapolis downtown Indiana — Source: pawel.gaul / Getty

INDIANAPOLIS — The Keystone Group now has four properties in downtown Indianapolis after acquiring the Sheraton Indianapolis City Centre Hotel.

The 378-room hotel will be renovated inside and out, rebranded as the Renaissance Indianapolis.

“This acquisition is not about one building,” said Ersal Ozdemir, founder and owner of the Keystone Group. “It is about creating a new model for how people live, work, stay and experience Monument Circle as the heart of downtown Indianapolis.”

One of the many luxury upgrades planned for the hotel includes having the state’s first rooftop pool bar with views of the downtown skyline and Monument Circle. Other areas of the hotel listed for upgrades are the ballroom, lobby, parking, and event spaces.

The Keystone Group is investing half a billion dollars on the city skyline. Ozdemir said they want to help people continue to work, live, play, and stay in Indianapolis.

“You can’t be a great city and not have these amenities for the residents as well as the guests,” Ozdemir told Fox 59. “It also helps attract more events to the city.”

Construction on the downtown hotel is expected to last for two years. Renaissance Indianapolis will still be fully operational during the transformation.