The Swan Lake Hotel was located on the south side of the lake in 1864, on Saanich Road opposite Falmouth, directly above the south wharf. The hotel was reputed to be excellent for fishing, spring and summer, and perfect for ice skating in the winter. This was Saanich's first year-round recreational resort. In January 1894, the hotel burned to the ground. As it was a popular and successful resort, it was quickly rebuilt. It burned to the ground again in October 1897, with the occupants barely escaping with their lives. However, it was never rebuilt after the 1897 mishap.