Two police cars were used to close Hallenstein Rd between 7.50am and 8.45am while three fire appliances and 15 fire fighters to extinguish the blaze.
Alex McMillan, who leases the Historic Stonehouse boutique accommodation at 47 Hallenstein St, called Queenstown Volunteer Fire Brigade when he heard the smoke alarm and witnessed smoke escaping from the roof.
Chief fire officer Bob Robertson was told the electricity and water supply to the property were turned off following a fire that occurred on Friday, which was caused by old wiring to the hot water cylinder.
No one was injured in this morning's fire.
The majority of fire damage effected the rear wall and central roof area.
In 2009, the Heritage Trust property was refurbished and named the Historic Stonehouse by Queenstown accommodation provider, Chalet Queenstown.