Whoa: According to the Indianapolis Business Journal, it was the Westin who made the decision, not Shula's:
https://www.ibj.com/articles/72197-longtime-downtown-steakhouse-shulas-preparing-to-close

"A representative for Shula’s told IBJ that the decision to leave the downtown Westin, 241 W. Washington St., was made by the hotel and not the restaurant. She said Shula’s would be open to operating another Indianapolis restaurant but doesn’t have current plans to relocate."

I didn't know that before. I just found that article now, while I was looking for this different one to post: 
https://www.indystar.com/story/entertainment/dining/2019/01/24/indianapolis-restaurant-closings-shulas-steakhouse/2668894002/

That story was that Shula's was the 3rd steakhouse to close in downtown Indianapolis this year. It also has a statement from the Westin that contradicts the ibj.com article linked above: 

"In a written statement, Westin Indianapolis general manager Andy Seal said, "The decision to close was a joint decision between hotel ownership and the restaurant management company. The lease was at its end and it was an opportunity to make a change."

Hotels change their restaurants all the time folks, this isn't a big deal.  Tastes change, trends change.  Maybe the Westin (which is now owned by Marriott) wanted a different restaurant?  Shula's was a decent steak house, I liked the food there and ate there many times while on business in Indianapolis.  My guess is that it will be replaced quickly by something that the hotel owners think will do better.

Definitely sorry to hear about that...  

We had a great dinner at St. Elmo's last year to close out the week.    I am pretty sure they had a special fixed price deal also.

Good luck!

So Noodles (Flood), Scotty's, Hard Rock Cafe, and now Shula's have all closed since last Gen Con. There are probably others I am missing too. An odd trend seems to be brewing.

Restaurants turn over all the time.  One goes out, another comes in.  It's a volatile industry.
 

Scotty's was BAD management. They just closed another location on Wed evening in the middle of dinner. Told everyone to get out they were closing for good at 7:00 PM

Hard Rock? I had a few company functions there over the years and they were gods awful service and food every time

Noodles just wasn't that popular with the downtown workers and I the fire damage last year didn't help

and finally Shula's if I'm getting a steak in Indy its Ruth's Chris first then St Elmo's.  IMO Shula's never had a good cut of steak. 

Broken English that was Tilted Kilt that was Jillians is now closed.

Broken English Closes
 

The downtown restaurant scene in Indianapolis seems to be particularly volatile, probably because there are simply so many places to eat. 

Has anyone heard if anything new is going into the spaces at Scotty's and/or Shula's? 

I don't know of any other Central/South American restaurants downtown, but there has to be more. 

Ok so this is my current dinning list for the 8 meals we will eat in Indy. We bring things for breakfast. Need 1 or 2 more. (*=New for us)

Giordano's Pizza
Burger Study (Probably twice)
Claddaugh Irish Pub *New
Primanti Bros
Nada *New
(The Old Spaghetti Factory or Buca di Beppo)

- Napolese Pizzeria: opposite of Chicago-style, Neapolitan-style pizza with a very thin, crispy crust.
- Punch Bowl Social: Good food and has an arcade/bowling alley/pool tables if you want to do non-Gencon games for a bit.
- PF Chang's: Prevalent chain, but since I saw you had Giordano's and the pasta places on there, I figured that's not an issue. This is usually my go-to when I want a decent sit-down meal right next to the ICC. A lot less crazy than Mikado.

If you are venturing further afield, I would recommend Rook (Filipino-fusion) or Kuma's Corner (Burgers).