I have a bi-annual meeting at the Homestead in December, and have become increasingly alarmed at the rates there. I have known about the King's Victorian Inn for some time and have stayed there once or twice in the past. I stayed there the first week in December again this year and was thoroughly delighted. The rooms in the main house are spacious and very reasonably priced. I was "bumped" to the cottage out back (my choice, given the options) and it was delightful. It is two stories (a little tight on the stairway), very quiet, comfortable and clean. The owners are delightful people - readily available and helpful. The Christmas decorations were worth seeing in any case...Breakfast is excellent, and on time. The Homestead, then, is less than a 5 minute drive (and probably $200 a night more expensive).
The King's is on my "Definite" list for all future meetings in Hot Springs. An outstanding place to stay.