Worthy Hotels, Inc. purchases Hotel RL Spokane at the Park

Tuesday, July 17, 2018

(as reported in The Spokesman-Review by Becky Kramer)

Worthy Hotels Inc. has purchased the Hotel RL Spokane at the Park for $35 million.

The 401 room hotel is on the north bank of the Spokane River, near the Centennial Trail and the Spokane Convention Center. The 7-acre property will be rebranded, operating under the name “The Centennial Hotel Spokane.”

“One of the best things Spokane has done is developed its beautiful riverbank allowing guests to enjoy this amazing built in asset, the Spokane River,” Walt Worthy, chief executive officer of Worthy Hotels, said in a statement. “I am pleased to now be part of that growing community along the river with the purchase of this hotel.”

Worthy Hotels now owns five hotels, all in downtown Spokane. Walt Worthy and his wife, Karen, started the company with the purchase and restoration of the Historic Davenport Hotel in 2000. The company’s portfolio also includes the Davenport Tower, the Davenport Lusso and the Davenport Grand.

Kate Hudson, a spokeswoman for Visit Spokane, said it’s exciting to see the former Red Lion property stay in local ownership.

Worthy Hotels has “an impeccable reputation,” she said. “They’ve done some wonderful things for tourism, both for leisure and business travel.”

The Centennial Hotel Spokane opened in 1983 with 184 guest rooms, with later tower additions bringing the number of guest rooms and suites to 401.

RLH Corp. targeted 11 hotels for sale late last year to pay down debt and focus on its hotel franchising business. This is the ninth sale of a former Red Lion property, according to a company news release.

In May, the company sold Templin’s on the River in Post Falls for $9.25 million to Post Falls Hotels LLC. Templin’s will continue to operate under the Red Lion brand.

This story is developing and will be updated.