The Loreta hotel is situated in the building of the former Černín riding school (the so-called  Small Černín house or Majerovský house). The mediaeval building was first replaced by a Renaissance one and then reconstructed in the Baroque style. Later on, the Černín family had a riding school with stables and a salla terrena built here.

The original Gothic building dating from 1384 belonged to the stone mason Michael, brother to Petr Parléř, builder of St Vitus´ cathedral. The building was destroyed by the Hussites and the city donated the land with the ruins for the construction of a new building.

In 1562 a fire in the Lesser Town and Hradčany also destroyed the new building. In the same year, the site was divided into three parts and handed over to Hradčany burghers for use and construction of new buildings. These land plots were purchased by Jakub Menšík of Menštejn. 

In the following century the plots changed owner a few times. The most important of the owners was Jan Jakub Majer, who built a scribing pool, a tap room, a distillery and a laundry here.

In 1718 the premises were bought by Countess Markéta of Valdstein for her brother, František Josef Černín of Chudenice. The new owner commenced an extensive reconstruction of the premises. The principal designer appointed by him for the purpose of the reconstruction was František Maxmilián Kaňka, who then worked for the Černín family. Stone masonry works based on Kaňka´s design were performed by Doméniko Rappa.

In 1720s there was a stable for 16 horses here. Historic documents also mention a riding school and carriage sheds. Unfortunately, none of these buildings can be precisely localised. On the first floor of the building there were flats occupied by the count´s treasurer, the sculptor Wenda, widow Playner and Count Kogler.

French and Prussian sieges of Prague also left traces in Hradčany. The Černín riding school was also damaged and required repairs. The reconstructions were managed by Josef Ertl – site supervisor working for Anselm Lurág. The reconstructions were continued by Matěj Hummel Junior. Before World War II the building belonged to the Regional Office and included flats to accommodate the office staff. The present hotel reception housed the popular wine cellar called U Lorety. After 1948 the building was nationalised and held by the state till 2004, when the premises were privatised and used for the construction of the Loreta hotel and gallery with a restaurant and a café. In 2012 the building was acquired by new owners, who had a sensitive reconstruction carried out here. The purpose of the reconstruction of the interiors was not confined to modernisation of the social and technological amenities. The main aim of the new owners was to preserve the history of the Old Town of Prague and instil this atmosphere into each of the hotel rooms.