The first record depicting farm with a water-mill, situated on the right bank of the Berounka River, dates back to year 1263. In the 14th century, the farm became part of the Karlstejn manor. The water-mill included a blacksmith shop, and tower dovecot located in the middle of the yard, which survived until today. The mill operated until year 1949.
From year 1990 the building served as a hotel. In year 2002 it was completely renovated, rooms along with restaurant were rebuilt and modernized. In August 2002, the hotel was damaged by disastrous 500-year floods, and it was reopened again in May 2003.
Historical sources states, that Italian poet, scholar and humanist Francesco Petrarca (1304-1374), who was invited to Bohemia by the Emperor Charles IV, has spent the night in the location of the Romantic Hotel Mlyn, during his visit of the unfinished Karlstejn castle. In order to honor this event, H&Hotels had made life-size equestrian statue of Francesco Petrarca, which is located in front of the hotel.