The "Main Inn" was built by John Adair and English stonemasons as a private Victorian residence referred to as "The Rockies".
Purchased by William C. Mahaffy, a land surveyor-turned lawyer, where he and his wife, Sarah, raised their four children. In 1888 he became the first District Judge of Muskoka and Parry Sound at the age of 39 (youngest in all of Canada).
Sarah may have sold around 1924 or her estate sold around 1926–1927. After which, it was an apartment house, a youth centre and then vacant. In the early 30s, it was purchased and renovated by Edward Kirk, where he and his wife lived for a while. Circa 1940 — an Italian couple owned the house for 2 years and named it Rainbow Inn but it failed as a corporate venture.
Purchased by Ernie and Marion Allchin, who converted it to a successful Inn and named it "Holiday House". An additional building, known as The Mews, was built during their ownership.
Changed hands to Jim and Jackie Niven. Jim's grandmother owned and operated it. Her bedroom was said to be Room #105.
Arthur and Sylvia Richardson purchased the Holiday House. Sylvia published a book entitled "Holiday House Inn — Memoirs of a Muskoka Innkeeper".
Peter and Jan Rickard purchased the Holiday House, renovated it and renamed it "Inn at the Falls".
Cliff and Minna purchased the Inn and have been renovating inside and out ever since.
The Pub, once known as the "Fox & Hounds Pub", was re-opened after major renovations and re-renamed "Pub at the Falls". In April 2022, Basilico, originally available only as take out, transformed the pub into an Italian restaurant.