The Mill Hotel, in Alverley, which had a recommended guide price of £250,000, sold for £490,000.
The hotel was damaged by fire on 18 May, causing most of the building's roof to collapse.
Cottons auctioneers, which sold the property on behalf of the receivers, said the property was "unique".
The hotel, formerly a popular wedding venue, closed unexpectedly last September following financial problems of its owner, Elysian Care.
The building dates to the 16th Century and was once a working flour mill. It was restored and turned into a 41-bedroom hotel.
A former Shropshire hotel set in eight acres, which was severely damaged in an arson attack, has sold at auction for almost twice the guide price.