Dreaming of Banff’s jaw-dropping trails, turquoise lakes, and epic mountain adventures—but worried about your wallet? Don’t worry, we’ve got you covered. Whether you’re planning a summer hiking trip or a fall foliage escape, this guide to Banff cheap hotels will help you stretch your budget without sacrificing comfort or convenience.
This isn’t just a list of cheap hotels in Banff. This is your ticket to more time on the trails, less time stressing over where to stay, and extra cash for that post-hike craft beer, gondola ride, or even one of our self-guided hiking tours in Europe.
👉 Planning to hike while you’re in town? Check out our guide to Banff’s best day hikes for families.
Why Book a Cheap Hotel in Banff?
Because Banff isn’t exactly known for being budget-friendly—but that doesn’t mean you can’t find a deal. Whether you’re a solo hiker, couple, or family, staying in a budget hotel in Banff gives you:
- More money for activities (guided hikes, kayak rentals, wildlife tours)
- Access to nature without paying for luxury
- The chance to stay longer and explore deeper
Now let’s dive into the best value-for money hotels in Banff and Canmore.
The Dorothy Motel (Banff)
Vibe: Quiet, clean, modern
Why it’s awesome: It’s on the edge of town, but not far—just a scenic 18-minute walk or 4-minute drive to the action. Newly renovated with cute touches, pet-friendly, and comes with mini-fridge and microwave for budget-friendly meals. Bonus: free Roam bus passes and a transit stop right outside.
Best for: Hikers with a car or folks who love a peaceful base close to trails.
Banff Boutique Inn (Banff)
Vibe: Cozy B&B meets private inn
Why it’s awesome: Full kitchen access, DIY breakfast, and just a 5-minute walk to downtown Banff. Quiet, residential location near the Cave and Basin site. It’s perfect if you like cooking your own meals and saving $$ for adventures.
Best for: Couples, families, and foodies who don’t mind cooking oatmeal before hitting the trails.
Banff Aspen Lodge (Banff)
Vibe: Modern lodge with mountain extras
Why it’s awesome: Two outdoor hot tubs and firepit courtyard? Yes please. Plus, one of the few budget-friendly hotels that includes a solid free breakfast buffet. It’s just steps from downtown, but super peaceful.
Best for: Friends or couples who love perks without the price tag.
Brewster’s Mountain Lodge (Banff)
Vibe: Rustic, family-run, Western charm
Why it’s awesome: One of Banff’s best cheap downtown options. Free continental breakfast, ski shuttle, and a sauna for chilly mornings. You’ll love the lodge-style rooms and historic flair.
Best for: Adventurers who want to walk everywhere, and skiers who love shuttle life.
Banff Park Lodge (Banff)
Vibe: Resort feel, budget price
Why it’s awesome: Killer location near the Bow River and downtown. Indoor pool, hot tub, steam room, fitness center—yep, all the fancy things for less. Optional buffet breakfast and heated underground parking.
Best for: Families, older travelers, or anyone who wants nature at their doorstep and amenities without the splurge.
Banff Rocky Mountain Resort (Banff Outskirts)
Vibe: Woodsy escape with room to spread out
Why it’s awesome: Apartment-style suites with full kitchens, BBQ grills, shuttle into town, pool, sauna, sports courts—you name it. It’s ideal for longer stays or groups splitting costs.
Best for: Families, groups, and travelers who like their own space and love to cook.
Samesun Banff Hostel (Banff)
Vibe: Budget backpacker heaven
Why it’s awesome: Super social, with private rooms or dorms, a bar, a killer kitchen, free breakfast, and group events. The cheapest place to stay in Banff that still has a great vibe.
Best for: Solo travelers and social adventurers who want community and value.
Bonus: Budget Hotels in Canmore (20 mins from Banff)
Why Canmore? It’s often way cheaper, still surrounded by peaks, and an easy drive into Banff.
Pocaterra Inn & Waterslide
Vibe: Family-friendly fun
Why it’s awesome: Free hot breakfast, huge indoor pool with a waterslide, and spacious rooms. Great for families with kids (or grown-ups who act like kids).
Lamphouse by Basecamp
Vibe: Boutique hipster meets mountain charm
Why it’s awesome: Sleek design, riverside hot tub, and smart features like keyless entry. Perfect for couples who want Instagram-worthy digs on a budget.
More Tips for Getting Deals on Banff Cheap Hotels
Want to save even more? These tried-and-true tips will help you snag the best deals on cheap hotels in Banff—so you can spend less on sleep and more on the adventure:
- Travel in the shoulder seasons: May to mid-June and mid-September to October are golden. Fewer crowds, lower prices, and hiking trails are still (mostly) open.
- Book your hotel in Banff early—seriously: Cheap hotels in Banff sell out fast, especially from June through September. Booking 3–6 months in advance can save you a ton.
- Stay midweek instead of weekends: Prices spike on Fridays and Saturdays. A Sunday–Thursday stay often means better rates and quieter trails.
- Consider Staying in Canmore: Hotels in Canmore are often 20–40% cheaper than Banff, and it’s only a 20-minute drive away.
- Look for free amenities: Things like breakfast, parking, or Roam bus passes can save you $50+ a day—more poutine money!
- Use loyalty or cashback programs: Booking platforms often offer discounts or free nights after a few stays.
Check for hotel price drops: If you’ve booked a cancellable rate, keep checking back. If the price drops, cancel and rebook.
Related Reading: The Best 5-Star Hotels in Banff for a Dreamy Mountain Escape—Hiking, Romance & Luxe Views Included
Final Thoughts on Finding Cheap Hotels in Banff
Banff doesn’t have to mean blowing your travel budget on a fancy lodge. These Banff cheap hotels give you the perfect balance: clean, cozy, affordable stays so you can spend your money where it matters—on adventure.
Whether you’re chasing waterfalls, summiting peaks, or enjoying poutine with mountain views, you’ll find a place to rest your head without draining your bank account.
Ready to hike? Check out the best easy hikes in Banff, the best winter hikes, and the best places to see wildlife in Banff. Or if you’re dreaming big, peek at our self-guided hiking tours.
