The late Colonel Stanley Jack Forster, a retired British Army Officer, was the original builder and owner of The Lakehouse in 1966. The construction of the building took four years and in 1970, the property started its operations as a boutique hotel.

Between 1970 and 1977, Colonel Forster was running both The Lakehouse and The Smokehouse. In 1977, he sold The Smokehouse to a local businessman but continued to manage The Lakehouse till his demise in December 1984. As the colonel's grown up children were not interested in running a hotel, The Lakehouse was then put on sale and in 1989, HPL Hotels & Resorts took over the property and has been managing it since then.