INDIANAPOLIS— Hilton Hotels & Resorts reported that the Adams Mark Hotel at Market and Illinois streets here will become the Hilton Indianapolis by mid-August. A $6.5 million refurbishment project is currently underway and expected to be completed by the end of this year. The re-branding and renovation of the hotel follow the January 2004 purchase of the facility by MSPA Acquisition II, L.P., a joint venture between Pyramid Advisors LLC and the Morgan Stanley Real Estate Fund. The hotel will be operated by Pyramid Hotel Group, a division of Pyramid Advisors LLC, under a franchise license agreement with Hilton Hotels Corp. In addition to the “top-to-bottom” enhancement project at the hotel, a new restaurant will open within the next six to 18 months at the 332-room Hilton.
