A 170-Room Hotel at 17 West Market Street
InterContinental Indianapolis opened at 17 West Market Street, steps from Monument Circle. IHG Hotels & Resorts published the opening on 27 February 2025 and dated the first guest arrivals to 20 February. Keystone Group put the restoration at $120 million in the IHG release. IBJ reported the public debut on Monday 24 February and recorded the rehabilitation cost at $110 million, after work that began in 2018.
The hotel holds 170 guest rooms and suites across 11 floors. Keystone added an entire rooftop floor during the restoration, and that floor carries the first rooftop bar in the city with a view over Monument Circle.
The Published Rates at Opening
IBJ published the opening rates on 24 February 2025. A king room started at $287 a night, or $273 for IHG One Rewards members, with a rainfall shower, a stocked mini bar and headboard controls for lighting and window shades. A one-bedroom luxury suite with city views started at $737, or $700 for members, with a king bed, a living area, a deep soaking tub, a rainfall shower, a wet bar and a mini fridge.
Monthly and seasonal bands, view premiums and package rates are unpublished.
What the Restored Interiors Deliver
Historic Hotels of America dates the Illinois Building to 1926 and describes the granite and limestone facade, the gilded terracotta cornice on the roof and the Landmark Lobby. IBJ dates the building to 1925 and places it among the Monument Circle structures designed by Rubush & Hunter. Keystone Group lists the Illinois Building at 150,000 square feet, records it as abandoned in 2002 and dates the hotel reopening to 2024.
Guests enter through brass doors set against alabaster panels. The exterior keeps its granite and limestone face, Moderne bas relief panels and gold-glazed terra cotta cornice. Inside, bespoke Murano chandeliers hang beside a hand-blown glass chandelier that drops three stories through the second-floor lobby, and the art program carries commissioned work by artists with Indiana ties.
Guest rooms carry 300 thread count linens, Black Label BeautyRest mattresses, walk-in showers and double vanities. Select suites add soaking tubs, and each room holds a full wet bar, a Nespresso machine, a curated mini bar and BYREDO Bal D’Afrique bath amenities.
Astrea and the View Above the Circle
Astrea Rooftop Bar occupies the 11th floor with indoor and outdoor seating, and IBJ counts 200 seats in the restaurant and cocktail lounge. The bar admits guests of all ages until 7 p.m. and guests 21 and over after that. DJs play Friday and Saturday from 7 p.m., and weekend brunch carries live sets from 10 a.m. to 2 p.m.
Reservations open 90 days ahead through OpenTable, and each booking holds up to six guests. Private event inquiries run through the rooftop’s own inbox.
The Penthouse, the Kitchens and the Fitness Floor
IHG describes the only penthouse suite in the city, placed on a private floor with floor-to-ceiling skyline views, and calls the presidential suite the largest in Indianapolis. Both claims are the brand’s.
Serliana serves the second floor under executive chef Craig Baker, who IBJ reported joined the property in 2024. Breakfast, brunch and lunch run from 6:30 a.m. and end at 2:30 p.m., and dinner starts at 5 p.m. daily. Hyde Park Steakhouse operates on the ground floor. A 24-hour fitness center and a full-service concierge sit in the house.
What the Opening Adds to the Market
IBJ put the downtown hotel inventory at 8,784 rooms for February 2025, with the Aloft Indianapolis and the InterContinental both opening that month. IBJ lists the city’s luxury class as the Ironworks and Bottleworks hotels, the JW Marriott and the Conrad, with the Signia by Hilton Indianapolis to join them. IHG calls the InterContinental the first luxury hotel to open in the city in two decades.
The InterContinental brand dates to 1946. IBJ counts about 240 InterContinental hotels in more than 60 countries, with 34 in North America.
What the Sources Leave Out
No publisher carries a corporate or group rate card for the property, a suite inventory count or the number of rooms with views of the circle. The rooftop carries one published seating count, from IBJ, and no publisher states the ballroom’s own capacity. Those are the numbers to request before any rate comparison against the Conrad Indianapolis or the Signia Hilton Indianapolis.