Hotel News

Carmel hotel budget jumps, spring opening still set – WISH-TV | Indianapolis News | Indiana Weather

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CARMEL, Ind. (Inside INdiana Business) — The city of Carmel says construction of a boutique hotel at Carmel City Center is on schedule, however the budget for the project has grown. The Hotel Carmichael is scheduled to open in May with a new estimated cost of $58.5 million, about $20 million higher than the initial budget.

The city cites “a variety of economic factors” as reasons for the budget increase, including a national increase in construction costs and local spikes in labor costs and tariffs on imported materials and goods. 

“The same factors that have led to a…

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