SHERIDAN, WYOMING – April 8, 2025 - Strategic divestiture reflects strong market position and proactive asset lifecycle approach
Legendary Capital, a leading hotel asset management firm, has officially sold its Holiday Inn Express property in Indianapolis for $10.1 million. The sale underscores the company’s disciplined investment strategy and commitment to maximizing value across its portfolio.
A strategic move backed by successful asset management
Originally acquired in 2017, the 89-room Holiday Inn Express—first opened in 2008—underwent significant renovations under Legendary Capital’s stewardship. The upgrades positioned the hotel as a competitive lodging option within the Indianapolis-Carmel-Greenwood metropolitan area, a region recognized for robust economic growth and a vibrant mix of business, tourism, and sports-driven travel.
According to Legendary Capital, the hotel’s location on the Indianapolis beltway and proximity to key airports enhanced its appeal to both business and leisure travelers. With the market continuing to show promise, the recent sale delivered a net gain over the company’s original investment, including renovation costs.
“A testament to adept management and robust strategy”
Alec Worwa, Senior Vice President at Legendary Capital, emphasized the strategic foresight behind the sale.
“We are pleased to announce the strategic divestiture of the Holiday Inn Express in Indianapolis for $10.1 million, a testament to our team’s adept management and robust operational strategies,” Worwa said. “This sale not only underscores our commitment to optimizing our portfolio, but also reflects our proactive approach in navigating the lifecycle of our assets.”
He further noted that while the hotel was a valuable part of the company’s holdings, upcoming brand-mandated renovations prompted a timely reassessment of investment priorities.
“While the property has been a valuable part of our portfolio, we recognized that the impending brand-mandated renovations presented a timely opportunity to reallocate resources towards more lucrative ventures, ensuring sustained growth and potential value creation for our stakeholders,” he added.
Continued momentum in a thriving Midwest market
Indianapolis continues to gain attention for its accessibility, economic resilience, and appeal as a travel destination. With a mix of thriving corporate hubs and regular high-profile sporting events, the metro area remains a favorable environment for hospitality investments.
Legendary Capital’s sale to a local group reflects growing interest from regional investors in high-potential assets. The transaction marks a successful exit for the firm, reinforcing its reputation for identifying and enhancing valuable hospitality properties across the U.S.
Looking ahead: A focused path to portfolio growth
The Indianapolis Holiday Inn Express sale aligns with Legendary Capital’s long-term strategy of maintaining a dynamic and optimized portfolio. By reallocating capital from mature assets, the firm aims to pursue new opportunities that offer higher yield potential and align with evolving market trends.
As the company continues to monitor and adjust its holdings, stakeholders can expect a forward-thinking approach that balances short-term gains with sustainable value creation.
Interested in Legendary Capital’s latest developments and investment strategies?
Visit LegendaryCapital.com to explore more about their asset management approach and hospitality investment portfolio.