Cheap hotels in Banff do exist, and the right one leaves more of your budget for the trails, the gondola and a proper dinner on Banff Avenue. These 9 affordable hotels are for hikers, solo travellers, couples and families: seven in Banff town and two in Canmore, about 20 minutes’ drive down the valley.
A cheap hotel in Banff comes down to three things: free or easy parking, a way to save on breakfast, and a location close enough to town that the car can stay parked in the evening. The best cheap hotel in Banff for hikers is Banff Aspen Lodge, with a hot tub for sore legs and a full breakfast included. Solo travellers on the tightest budget can take a dorm bed at Samesun Banff Hostel, and families get an indoor waterslide at Pocaterra Inn & Waterslide in Canmore.
Below are 9 cheap hotels in Banff and Canmore, starting in Banff town.
Browse Cheap Hotels in Banff by Area
Already know which base suits your trip? Here is what each area is like on a budget, and a live list of hotels with rooms free on your dates.
Cheap Hotels in Banff Town
Banff town puts you within walking distance of Banff Avenue, the Bow River and the Tunnel Mountain trail, and Roam Transit buses cover the rest. Stay in town and you can hike in the morning, soak in the Banff Upper Hot Springs in the afternoon and leave the car parked all evening.
Good for: hikers without a car, first visits, the Banff Gondola, and dinner on Banff Avenue.
Budget Hotels in Canmore, Near Banff
Canmore sits just outside the national park, about 20 minutes’ drive from Banff, under the Three Sisters peaks. Hotels here are often cheaper than in Banff, and you are close to the Grassi Lakes trail, the Canmore Nordic Centre and the trails of Kananaskis Country.
Good for: families, road trippers, mountain biking, and hikers heading into Kananaskis.
Affordable Hotels Across Banff National Park
Beyond Banff town, the park stretches up the Bow Valley to Lake Louise and the start of the Icefields Parkway. A night further up the valley puts you closer to Johnston Canyon, Lake Louise and the big day hikes, with an earlier start than the tour buses.
Good for: Lake Louise sunrises, Icefields Parkway road trips, and long day hikes.
- Best cheap hotel in Banff for hikers: Banff Aspen Lodge, Banff Avenue – hot tub, free parking and a full breakfast included
- Best affordable hotel in downtown Banff: Brewster Mountain Lodge, Caribou Street – continental breakfast, 200 metres from the Whyte Museum
- Best budget hotel in Banff for couples: Banff Boutique Inn, Cave Avenue – adults only, with a guest kitchen and lounge
- Best cheap hotel in Banff for families: Banff Rocky Mountain Resort, Banff Avenue – suites with kitchenettes and a 15-metre indoor pool
- Best cheap place to stay in Banff for solo travellers: Samesun Banff Hostel, Banff Avenue – dorm beds, breakfast and a bar
- Best cheap hotel near Banff: Pocaterra Inn & Waterslide, Canmore – indoor waterslide, and pets are allowed
- Just browsing? See which hotels are free on your dates in Banff, Canmore or Banff National Park
Banff isn’t known for being cheap, but a budget hotel here is still a bed in the middle of a national park. Spend less on the room and you get another day on the trail, an evening soak in the Banff Upper Hot Springs, or a head start on a bigger adventure, like one of our self-guided hiking tours in Europe. Planning your days? Start with the best easy hikes in Banff, and if the budget stretches, compare the best hotels in Banff.
Cheap Hotels in Banff Town
All seven of these affordable hotels in Banff are inside the town or on its edge, so the trailheads, restaurants and buses are close by.
1. Banff Aspen Lodge in Banff, Alberta
Picture the end of a long day on the trail: boots off, legs aching, and a hot tub waiting downstairs. Banff Aspen Lodge sits on Banff Avenue, about a 10-minute walk from the Banff Park Museum, and every room has its own balcony or patio for a first coffee with the mountains.
A full breakfast is included, which on a budget trip is lunch money saved. There’s free parking, a mini fridge in the room, a café and ski storage, plus a launderette on site, which matters more than it sounds after three days of muddy trail socks. Pets are welcome on request, and charges may apply.
For hikers after cheap hotels in Banff with a few extras thrown in, this is the one we’d book first.
2. Banff Park Lodge in Banff, Alberta
Banff Park Lodge feels more like a resort than a budget pick. It’s on Lynx Street in downtown Banff, a short stroll from the Bow River, with an indoor pool, a hot tub, steam rooms and a fitness centre for anyone who still has energy left after the hike.
There are family rooms, a restaurant and bar on site, breakfast if you want it, and private parking in the hotel garage. Pets aren’t allowed here. The steam room is the budget version of a spa day, and nobody has to know.
For families, older travellers and anyone who wants amenities without the splurge, it’s one of the most affordable hotels in Banff to come back to after a day in the mountains.
3. Brewster Mountain Lodge in Banff, Alberta
Brewster Mountain Lodge is right in downtown Banff on Caribou Street, 200 metres from the Whyte Museum of the Canadian Rockies. Inside, it’s log furniture, western décor and old photos of the Brewster family, who have been guiding visitors around Banff for generations.
A continental breakfast is included, rooms have a kettle and coffee machine, and there’s a fitness centre, ski storage and a tour desk for booking the next day’s adventure. Pets aren’t allowed. You can walk to dinner and back, which is the best argument for staying downtown.
For adventurers who want to leave the car parked and walk everywhere, it’s one of the best budget hotels in Banff.
4. Banff Boutique Inn in Banff, Alberta
Banff Boutique Inn is a quiet, adults-only inn on Cave Avenue, the road that leads to Cave and Basin National Historic Site, and about a 5-minute walk from downtown Banff. The rooms are each decorated differently, with high ceilings, and parking is free.
The guest kitchen and lounge are the budget secret. Buy breakfast at the grocery store, make your oatmeal before the trailhead, and come back in the afternoon for a cup of tea on the sofa. Guests must be 18 or over, and pets aren’t allowed. The Banff Gondola is about 10 minutes away by car.
For couples who don’t mind cooking their own breakfast, it’s the most romantic cheap accommodation in Banff.
5. The Dorothy Motel in Banff, Alberta
The Dorothy Motel is on Marmot Crescent, on the quieter edge of town, about an 18-minute walk from downtown or a few minutes by car. Rooms have air conditioning, a fridge and a tea and coffee maker, and the garden, terrace and picnic area are there for a slow evening outside.
Parking is free, there’s bicycle parking, and guests get Roam bus tickets for the ride into town, with a stop close to the motel. Its sister hotel, The Canoe, is where you head for breakfast. Pets are allowed on request, and charges may apply.
It’s a peaceful base close to the trails, and the pick of the cheap Banff hotels for hikers with a car or a dog.
6. Samesun Banff Hostel in Banff, Alberta
Samesun Banff Hostel is on Banff Avenue, a short walk from the centre of town, with dorm rooms from 6 to 14 beds, including female-only dorms. It’s where you meet the people you’ll be sharing a trail with tomorrow.
Breakfast is included, there’s a restaurant and bar, and the shared kitchen keeps dinner cheap. Guests under 18 need a parent or guardian with them, and pets aren’t allowed. Bring earplugs: that isn’t a complaint, it’s a dorm.
For solo travellers and social adventurers, it’s one of the best cheap places to stay in Banff.
7. Banff Rocky Mountain Resort in Banff, Alberta
Banff Rocky Mountain Resort is at the far end of Banff Avenue, about 10 minutes from the centre, and every room is a suite: junior suites, one- and two-bedroom suites and lofts, with kitchenettes for cooking your own dinners. A free shuttle runs guests into town.
There’s a 15-metre indoor pool, indoor and outdoor hot tubs, a gym, and squash and tennis courts, which is how you tire out the kids who somehow aren’t tired after a hike. Parking is free, Alpha Bistro is on site, and pets are allowed on request, with charges that may apply.
For families and groups splitting the cost of a suite, it’s one of the best cheap hotels in Banff, Alberta, for room to spread out.
Budget Hotels in Canmore, Near Banff
Canmore is often cheaper than Banff, it’s still surrounded by peaks, and it’s about 20 minutes’ drive from Banff town. These are the two cheap hotels near Banff we’d look at first.
8. Pocaterra Inn & Waterslide in Canmore, Alberta
Pocaterra Inn & Waterslide is on Bow Valley Trail in Canmore, and the name gives away its best feature: an indoor pool with a waterslide, plus a hot tub and a sauna. It’s made for kids, and for grown-ups who act like kids.
A breakfast buffet is served every morning, every room has a microwave and a fridge, and there are family rooms and free parking. Pets are allowed, and charges may apply. The Canmore Nordic Centre is 12 minutes’ drive away.
For families, it’s the best cheap hotel near Banff.
9. Lamphouse By Basecamp in Canmore, Alberta
Lamphouse By Basecamp is in Canmore town centre, on 8th Street, with local artwork all over the building and mountain views. Rooms have a 55-inch TV, a fridge and locally made toiletries, and there’s a hot tub for the end of the day.
Parking is free, and restaurants and cafés are a short walk away. Pets aren’t allowed. The Canmore Nordic Centre is 10 minutes by car, and Banff National Park starts about 25 km up the road.
For couples who want a design hotel on a budget near Banff, this is the one.
How to Find Cheap Hotels in Banff: 7 Tips
Banff cheap hotels are the first rooms to go in summer, so a little planning goes a long way. These tips help you find affordable hotels in Banff and spend more on the adventure than on sleep.
- Travel in the shoulder seasons. From April, after Easter, to mid-June, and from mid-September to the end of November, you get fewer crowds and lower rates. The higher trails can still hold snow at the start and end of the season, so plan lower hikes then.
- Book your hotel in Banff early. Cheap hotels in Banff sell out fast from June to September. Booking 3 to 6 months ahead gives you the widest choice.
- Stay midweek. Rates climb on Fridays and Saturdays. A Sunday to Thursday stay often means better prices and quieter trails.
- Consider Canmore. Hotels in Canmore are often cheaper than in Banff, and it’s about 20 minutes’ drive away.
- Count the free extras. Included breakfast, free parking and bus tickets add up over a week, and they leave more for poutine.
- Use loyalty and cashback programmes. Booking sites often give discounts or free nights after a few stays.
- Watch for price drops. If you booked a free-cancellation rate, keep an eye on it. If the price falls, cancel and rebook.
Cheap Hotels in Banff: FAQs
What are the best cheap hotels in Banff?
The best cheap hotels in Banff are Banff Aspen Lodge for hikers, with a hot tub and a full breakfast included, Brewster Mountain Lodge for staying downtown, Samesun Banff Hostel for solo travellers who want a dorm bed, and Banff Rocky Mountain Resort for families who want a suite with a kitchenette.
Is it cheaper to stay in Canmore than in Banff?
Staying in Canmore is often cheaper than staying in Banff, and Canmore is about 20 minutes’ drive from Banff town. Pocaterra Inn & Waterslide has an indoor waterslide and family rooms, and Lamphouse By Basecamp is a design hotel with a hot tub in Canmore town centre.
When is the cheapest time to stay in a hotel in Banff?
The cheapest time to stay in a hotel in Banff is the shoulder season, from April, after Easter, to mid-June and from mid-September to the end of November, when crowds are smaller and rates are lower. The higher trails can still hold snow at the start and end of the season, so plan lower hikes then. Rates are also lower from Sunday to Thursday than at weekends. For winter trips, see the best winter hikes in Banff National Park.
What is the most romantic cheap hotel in Banff?
The most romantic cheap hotel in Banff is Banff Boutique Inn, an adults-only inn on Cave Avenue about a 5-minute walk from downtown. Guests must be 18 or over, the rooms are individually decorated, and there’s a guest kitchen and lounge.
Which cheap hotels in Banff are pet-friendly?
The pet-friendly cheap hotels in Banff are Banff Aspen Lodge, The Dorothy Motel and Banff Rocky Mountain Resort, which all take pets on request. Near Banff, Pocaterra Inn & Waterslide in Canmore allows pets. Charges may apply, so tell the hotel when you book. Banff Park Lodge, Brewster Mountain Lodge, Banff Boutique Inn, Samesun Banff Hostel and Lamphouse By Basecamp don’t allow pets.
What is the most family-friendly cheap hotel in Banff?
The most family-friendly cheap hotel in Banff is Banff Rocky Mountain Resort, where every room is a suite with a kitchenette, and there’s a 15-metre indoor pool, indoor and outdoor hot tubs and a free shuttle into town. Near Banff, Pocaterra Inn & Waterslide in Canmore has family rooms and an indoor waterslide.
What is the best cheap spa hotel in Banff?
The best cheap spa hotel in Banff is Banff Park Lodge, though none of the budget hotels here is a full spa hotel. Banff Park Lodge has steam rooms, an indoor pool and a hot tub, Banff Rocky Mountain Resort has indoor and outdoor hot tubs, and Pocaterra Inn in Canmore has a sauna and hot tub. For a full spa, see the best 5-star hotels in Banff.
Do you need a car if you stay at a cheap hotel in Banff?
You don’t need a car if you stay at a cheap hotel in downtown Banff, such as Brewster Mountain Lodge or Banff Park Lodge, because restaurants, shops and the Tunnel Mountain trail are within walking distance, and Roam Transit buses cover the rest. Banff Rocky Mountain Resort runs a free shuttle into town. In Canmore, a car makes life easier.
Search All Cheap Banff Hotels on a Map
Want to see where every hotel sits? Zoom in on the map to compare hotels in Banff and Canmore with rooms free on your dates.
Book a Cheap Hotel in Banff, Then Hit the Trails
A cheap hotel in Banff isn’t a compromise when the real attraction is outside the door. Check trail conditions with Parks Canada before you set out, then pick your adventure: the best easy hikes in Banff, the best winter hikes, or the best places to see wildlife in Banff. And if the mountains leave you wanting more, have a look at our self-guided hiking tours.
