Walt Worthy bought Spokane's historical Davenport Hotel in 2000 and restored the crumbling edifice to its original 1914 grandeur. It reopened in 2002, and the new Davenport Tower opened in January this year. Worthy, a college dropout, made his fortune in real estate development. Here he reveals some of his canny sense of what makes good real estate value.

What is your favorite place in Washington?

The falls on the river in downtown Spokane. The development potential there is enormous and sorely underutilized. The entire riverfront is a diamond in the rough.

What is your idea of happiness?

A blend of good personal and business challenges. I've thoroughly enjoyed ferreting out and executing various real estate projects.

What accomplishment are you most proud of?

Starting in the real estate field with virtually no money or experience in 1970 and figuring out how to compete effectively in the market. Selecting and executing good real estate opportunities and accumulating a portfolio including Rock Pointe Corporate Center and the Davenport Hotel.

What do you most regret?

Not taking time to explore the world a bit more.

What do you most fear?

Getting older and losing vitality.

Who in history do you most admire?

Successful entrepreneurs such as Armand Hammer, Boone Pickens, Ray Kroc, Ted Turner, Les Schwab and Dave Thomas.

What Washington CEO do you most admire?

I admire Bill Gates for his business acumen and philanthropy.

What personal trait would you rather not have?

Lack of coordination.

What trait bothers you most in others?

People expounding on subjects they know nothing about, but claim to.

What do you consider the most overrated virtue in an executive?

Education credentials, but a lack of common sense and experience.

When do you find it necessary to lie?

I'm known to tell it like it is, a straight, honest answer or opinion.

What person do you most despise?

I really don't despise anyone, but I have a lack of respect for people who purport to be or do things under the guise of doing good, whether it be evangelical, political or business-oriented, thereby taking advantage of their followers.

What is the greatest love of your life?

My wife, and going to work every day to meet challenges and solve problems.

Where were you most happy?

As a youngster, taking family trips to Panama City Beach, Fla. As an adult, at the closing table both buying and selling properties.

What talent would you most like to possess?

A photographic memory and being able to play golf well enough to pursue the sport.

What do you see as the greatest obstacle to Washington's future economic growth?

Too many governmental regulations. For the westside, too dense a population and traffic.

What is your most significant achievement?

The Davenport Hotel restoration and conversion into a viable and profitable business. And staying married for 32 years.

What is your most valued possession?

Good health!

What attributes do you like in a man?

Integrity, self-confidence and ambition.

What attributes do you like in a woman?

Intelligence, self-confidence and pride in appearance.

Who is your favorite author?

I enjoy biographies and autobiographies of successful entrepreneurs. Otherwise, I really don't read much other than financial magazines, daily news and the Wall Street Journal.

Who is your favorite hero of fiction?

Hero is too strong a word, but I've enjoyed James Bond books.

What turns you off the most?

Incompetent people in positions of authority.

What is your motto?

It's not how much you spend, it's how you spend the money.

What one thing in Washington would you change?

Raise the temperatures to 80 degrees year-round.