Indiana University hopes to turn a money-losing hotel on its Indianapolis campus into a profitable venture that includes dorms and classroom space.
The University Place Hotel and Conference Center at Indiana
University-Purdue University Indianapolis has lost money in six of
the last seven years. Now IU plans to convert it into a multi-use
building after studying its viability.
IUPUI Chancellor Charles R. Bantz tells The Herald-Times
(http://bit.ly/MqLHhq ) that the new uses will better support
campus needs.
The facility was built in 1987 but struggled over the years. IU
took over operations from the Doubletree hotel chain in 2005 and
spent nearly $31 million on renovations and maintenance.
The repurposed building will include about 560 beds for
students. Rooms are expected to be available for the fall 2013
semester.
