My first three guesses were wrong. One was the Donaghey Building, whatever that is. The second was the Albert Pike Hotel and the third was the Arkansas Democrat-Gazette newspaper building. After asking directions, I found The Capital, which didn't disappoint. It's not a huge hotel like The Peabody, but it's definitely got the same class.
Columns line the first story of the four-story building.
The spacious lobby and the mezzanine also are lined with columns. The brochure disspelled that idea. A local matron, Mrs. Morehead Wright, commented on the hotel's opulence back in the day. The story describes the hotel, which opened the next day. I'm sure that last part brought throngs of guests to the hotel.