Lodging Options:
The park itself has campground and cabins for rent. They actually have a reservation site on their website now.
HSORV
Panther Valley is really close and caters to off-roaders going to the park. I have never stayed there, but I have drank a few beers there with others and they seemed nice.
Panther VAlley
KOA is nearby and is supposedly really nice, but I know people who have stayed there and liked it. I have never stayed there so this recommendation is third hand.
KOA
Hotels that I recommend:
In town:
Embassy Suites in Hot Springs
Hotel Hot Springs
The Waters (high end, valet parking only, etc... but it is top notch and right down town)
I do NOT recommend The Springs which is downtown, it has a great lobby, but the rooms are awful.
South of Town:
There is a bunch of hotels on Central Avenue south of the 270 bypass, this area is commercial and there is plenty of restaurants, stores, gas stations, and provides easy access to the park via the bypass. Any major chain hotel in this area is going to be fine. I have stayed at the La Quinta, Quality, Hampton Inn, etc... in this area and they were all good, had plenty of parking for trailer, easy access to restaurants, etc...
Hotels that I have no experience:
Arlington - main stay in Hot Springs, the Lobby and Lobby bar is great but I have heard the rooms are old and small.
Red Roof Inn and Red Carpet Inn are close, I have never stayed there and my wife would most likely never stay there just from the external looks, but they are close to the park.
There is plenty of short term rentals (AirBnB and VRBO) available in the area. I know one that will book direct to Jeepers, and has plenty of room for parking a trailer(s). Booking direct with him makes it cheaper by saving all the booking fees, but it is booked this weekend (by me
). However, if anyone is heading there any other time and is interested in a short term rental, send me a direct message and I can shoot you the contact info.
If you do a short term rental in town, parking may be an issue for a trailer. So if you are unsure on parking for trailer, you can always drop your truck and trailer at HSORV and then drive your jeep back and forth between the short term rental and the park.
There is plenty of other options, send me a note if you have any questions, I get over there 5 or 6 times a year so I may or may not be able to answer your questions.