Construction began the following year on the grand and opulent structure, which was described by Palo Pinto County historian John Winters as a "Spanish Colonial Revival, Commercial Highrise."

It would rise 14 stories over Mineral Wells, and house 450 guest rooms, two ballrooms, an in-house beauty shop, and other novelties such as a bowling alley, a gymnasium, and an outdoor swimming pool.

The hotel was fully air conditioned by the 1940s, which added to its appeal as a top-notch convention attraction, offering a meeting capacity of 2,500 attendees, a remarkable number considering that Mineral Wells was home to only about 6,000 residents in 1929.

Though it opened mere days after the 1929 stock market crash, the Baker enjoyed immense success throughout the 1930s, largely due to Mineral Wells's growing reputation as a top-tier health spa destination.

Several notable celebrities made the Baker a temporary home during their visits to the city's health spas; the star-studded guest list included Glenn Miller, Lawrence Welk, Clark Gable, Judy Garland, future U.S. President Lyndon B. Johnson, and even The Three Stooges.

As the decade came to a close, however, Mineral Wells's reputation as a health spa was in decline; advances in modern medication and the discovery of antibiotics such as penicillin began to lead local doctors, who had been encouraging patients to partake in the area's therapeutic waters, to invest more confidence in medicine.

Aside from these successes, business declined steadily through the 1950s and the proverbial final nail was driven by Earl Baker himself when he announced that he would be closing the hotel after the passing of his 70th birthday in 1963.

Although several groups had made offers to rehabilitate the structure, the building remained abandoned until 2019, when it was announced that the Baker Hotel would finally be renovated and restored.

[4][5][6] On June 20, 2019, the Baker was announced to have been bought by DFW-based investor Laird Fairchild along with other partners, who had secured the last of the funding needed for the restoration.