OCTOBER 13, 2006 - Posted at 3:31 p.m. CDT
HOT SPRINGS, AR - The owner of the Majestic Hotel Resort Spa at Hot Springs says the hotel will shut down on October 22 after 124 years of business.
Owner Monty Scott says he is negotiating with several parties, including one who might renovate the building.
Scott's company also owns the nearby Arlington Resort Hotel and Spa, as well as the Hot Springs Country Club. He says an announcement will be made before the end of the year about the future of the Majestic.
Scott won't say who he was talking to about the Majestic's future or whether the hotel would be sold or converted to some other use.
He blamed the hotel's closure on casino available in states surrounding Arkansas.