Two new hotels, an expanded convention center and a new use for Pan Am Plaza are among many items in new plans released by the Capital Improvement Board of Directors, last week. In a partnership with Visit Indy and Kite Reality Group Trust the plan is to spend 120-million-dollars on the projects.

“Indianapolis is need of adding over a thousand new hotel rooms into our inventory or rick losing some of the city’s largest annual conventions,” said Visit Indy CEO Leonard Hoops.

“We’ll be adding 14-hundred new hotel rooms into the downtown landscape,” Hoops continued. “Those will connect via climate controlled skywalk over to Pan Am Plaza.”

Hoops adds this plan, though pricey, will help Indianapolis retain more than $300 million in annual economic impact. He said the two planned hotels, which will reach 38 stories, will be Hilton hotels.

Visit Indy Vice President Chris Gahl said the investment will put the tourism industry in a “picture-perfect” position for growth. The project is expected to receive final state, city and other requisite approvals over the coming year.