Here is the wrap-up from the web site mentioned by yoniluvrca:
Hotel California is an allegory about hedonism and greed in Southern California in the 1970s. At the time of its release, the Eagles were riding high in the music world, experiencing material success on a frightening level. Though they thoroughly enjoyed the money, drugs, and women fame threw their way, they were disquieted by it all and sought to pour that sense of unease into their music and to warn others about the dark underside of such adulation.
In a 1995 interview, Don Henley said the song "sort of captured the zeitgeist of the time, which was a time of great excess in this country and in the music business in particular." In another interview that same year, he referred to it as being about a "loss of innocence."
The album has as its underlying theme the corruption of impressionable rock stars by the decadent Los Angeles music industry. The celebrated title track presents California as a gilded prison the artist freely enters only to discover that he cannot later escape.
The real Hotel California is not a place; it is a metaphor for the west coast music industry and its effect on the talented but unworldy musicians who find themselves ensnared in its glittering web.
