INDIANAPOLIS (WISH) — The Keystone Group has acquired the 21-story Sheraton Indianapolis City Centre Hotel near Monument Circle in preparation to update the hotel.

Neither the cost of the acquisition nor the anticipated cost of planned renovations was included in a news release that Keystone Group issued Friday.

The Indianapolis-based real estate development, construction, and management company, known for its downtown developments, plans to transform the property into a Renaissance hotel, a Marriott International premium lifestyle brand aimed at business and leisure travelers.

The plans for the hotel at 31 W. Ohio St. includ...