The owners of the Stanley Hotel, which inspired the Stephen King horror flick "The Shining," are planning to launch a horror-themed museum, according to Rolling Stone.

The owners of the iconic Colorado hotel are hoping to raise $24 million for the museum as well as funding for an exhibition space, an auditorium that can house up to 500 people and production amenities and editing suites.

The owners are also working toward establishing an educational program with the Colorado Film School, according to Sky News.

The museum will function as a non-private, public-private organization, and expects it will attract thousands of film fans, industry leaders, aspirants and students, not just in the United States but also from around the world.

The founding board of the museum currently has members who come from the biggest films in the industry. namely Elijah Wood, Simon Pegg, George A. Romero, Mick Garris, Josh Waller and Daniel Noah, according to the Denver Business Journal.

The Stanley Hotel is located in Estes Park, which is 70 miles from northwest Denver. King and his wife were on vacation and stayed at the hotel in 1974. A nightmare he endured during his stay generated the idea for the 1980 classic horror film.

The film follows Jack Torrance (portrayed by Jack Nicholson), a family man who takes a job as a caretaker for the hotel where unseen forces drive him to insanity and violent rages in the cold and hilly remoteness of the resort, according to Yahoo! Movies.