SPOKANE, Wash. -

Walt and Karen Worthy, the owners of the Davenport Hotel, announced Wednesday their newest plans to build a new hotel across the street from the INB Performing Arts Center.

The new hotel - set to become the largest in Spokane - will be built across Spokane Falls Blvd. from the Performing Arts Center, which it will face, in what is now a parking lot. The plan calls for that lot to move underground, with a new parking garage to be built on the east side of the hotel.

"It's going to be the largest building in Spokane by a long shot," Walt Worthy said at a press conference with his wife Karen, where they announced their plans for what will become the largest hotel in Spokane.

"It's a U-shaped hotel, just like the Davenport, and the rooms will be much the same size, we will be almost 500 square feet in each room," he added.

The hotel will be 15 stories tall with 700 rooms and a total of 550,000 square feet complete with retail space, restaurants, several ballrooms, an indoor pool and a spa. A skywalk will be built to connect the hotel to the convention center.

"It's so big, it's the biggest thing we have ever done and I was nervous with the Davenport too but once you get started you can't turn back," Karen Worthy said.

Back in April Spokane voters approved a $65 Million convention expansion project. Walt and Karen Worthy's hotel project will help to play a critical role in bringing more conventions to town.

"We think this town needs something like this, and our marketing team is constantly finding that there are events that we aren't able to go after, so we aren't hoping to steal market share from the other hotels but to just have a bigger pie and a bigger piece of the pie," Walt said.

The hotel plans to have a brand affiliation with a major hotel chain like Marriott or Hyatt with the Worthys managing the hotel.

"When you start selling a large venue like this it's important to have national recognition and a national sales team to help in filling up this many rooms," Walt said.

A decade after he reopened the Davenport Walt Worthy isn't done yet.

"We still have some I's to dot, T's to cross, figure out what color and all of that but we are going to just do the best job we can," he said.