Worthy Hotels Inc., the Spokane-based company that operates four prominent downtown hotels, has bought the Hotel RL Spokane at the Park, on downtown Spokane's periphery.

The hotel, located on 7 acres of land on the north bank of the Spokane River, at 303 W. North River Drive, will be rebranded as The Centennial Hotel Spokane, an independent hotel.

The terms of the transaction weren’t disclosed.

"I am pleased to now be a part of that growing community along the river with the purchase of this hotel," Walt Worthy, CEO of Worthy Hotels, says in a press release announcing the transaction.

The hotel has 401 guest rooms and suites, a restaurant and lounge, 30,000 square feet of meeting space, a seasonal outdoor pool with water features, and a year-round indoor pool. It features views of the Spokane River, Centennial Trail, and Riverfront Park.

The hotel was constructed in 1983 and was expanded in 1986.

Worthy and his wife, Karen, started Worthy Hotels in 2000 with the purchase and restoration of the 284-room Historic Davenport Hotel.

The company developed the 716 -room Davenport Grand, which opened in 2015 at 333 W. Spokane Falls Blvd.; and the 328-room Davenport Tower, which opened in 2006 at 111 S. Post. The company also in 2009 acquired the 48-room Davenport Lusso, at 808 W. Sprague.

The Davenport properties are affiliated with the Marriott Autograph Collection.

Worthy says he'll consider affiliating the Centennial Hotel with a national brand later this year.

The newly acquired hotel had been a flagship property of Red Lion Hotels Corp., a nationwide hotel operator that was founded here, but moved its headquarters to Denver a year ago