Banff National Park is one of the most beautiful places on Earth. With towering snow-capped Rocky Mountains, turquoise blue lakes, world-class hiking and skiing, everyone should visit Banff at least once in their lives.
Given a visit to Banff is a bucket-list destination for millions around the world, it’s no surprise that Banff has been named the most expensive place to visit in Canada. Finding cheap accommodations in Banff is key to visiting Banff on a budget, but this can be challenging. Not to worry, we have done tons of research to help you find the best cheap hotels in Banff, many of which also appear on my list of the best hotels in Banff.
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What to Look for in a Cheap Banff Hotel
It’s easy to get sticker shock when looking at the cost of hotels in Banff, especially if you are visiting Banff in summer. Even the cheap hotels in Banff are quite expensive during high season!
When looking for affordable accommodation in Banff, try to remember what’s truly important for your trip to Banff. Banff National Park is one of the most beautiful places on Earth, so you’ll be spending most of your time away from your Banff hotel enjoying yourself outside.
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Given you’ll be away from your hotel a lot, you don’t need a lot from your hotel. All you need from your inexpensive Banff accommodation are clean rooms and comfortable beds. A history of good reviews from a large number of guests helps assure you that you won’t be staying at a flea trap.
When we are not at home near Banff, we travel on a budget around the world and have a ton of experience finding a good deal on a nice hotel. We’ve used our skills to separate the good affordable Banff hotels from the bad. The affordable hotels and hostels below meet our high standards for inexpensive places to stay in Banff.
Many of the best cheap Banff hotels on our list offer free Roam Passes. It’s important to note that these free Roam bus passes are generally for local Town of Banff routes only and do not apply to the long-haul Roam routes to Johnston Canyon, Lake Louise or Canmore.
Don’t Miss: Our best tips for traveling to Banff on a budget.
The Best Cheap Hotels in Banff
Staying at budget hotels in Banff doesn’t mean you have to sacrifice quality. It’s true, there are some cheap hotels in Banff I wouldn’t stay at, but thankfully these are rare. In fact, most of the best cheap hotels in Banff are very nice places to stay with happy, satisfied clientele.
The inexpensive hotels listed below are among the cheapest accommodations in Banff. They are all inexpensive (relative to other Banff hotels), so they are not ranked in order of cost. We have ranked these inexpensive Banff hotels in the order which give the best value and experience for your money.
Don’t miss my best tips for finding Banff deals at the bottom of my list!
1. The Dorothy Motel
Best overall cheap hotel in Banff town without a car.
The Dorothy Motel is the best affordable hotel in Banff. Newly renovated, the guests at the Dorothy Motel in Banff have given it some of the best guest reviews of any hotel in Banff, not just among its affordable Banff hotel peers.
One of the reasons the Dorothy Motel is an affordable Banff hotel is its location at the eastern edge of the Banff townsite. Being ‘far’ away from downtown makes this Banff motel more affordable, but to put it in perspective, it’s only a 4 minute drive or a mere 18 minute walk to downtown Banff. It’s location is hardly an inconvenience – I love walking along Banff Avenue!
If you are driving to Banff, you should be aware that parking in Banff can get very expensive. One of our best tips on finding free parking in Banff is staying at a hotel with free parking. You’ll enjoy free outdoor parking at the Dorothy Motel.
If the location of the Dorothy Motel is a concern, you can take advantage of the free Roam bus passes guests receive for their stay. Conveniently, there is a Roam public transit stop right by the motel, making the Dorothy Motel an ideal place to stay for visiting Banff without a car.
Two other advantages of the Dorothy Motel location are that it backs onto the forest and its close to the Banff Legacy Trail. This paved bike trail between Banff and Canmore is one of our favorite bike rides in Banff and one of the best free things to do in Banff.
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There are some really good cheap hotels in Canmore on the opposite end of the Legacy Trail! Not sure about Canmore? Check out our post on Banff vs. Canmore.
Being an affordable Banff hotel, you won’t find a pool or fitness room at the Dorothy Motel, but it’s clean and has all the basic amenities you require in a Banff hotel room, such as a coffee/tea station, flat-screen TV, a microwave and mini-fridge.
Each motel room has a small table and chairs, so you can save even more money on your Banff vacation by self-catering or eating take-out from some of the nearby Banff restaurants.
If you are visiting Banff with a dog, you’ll be happy to know that the Dorothy Motel is a pet-friendly hotel in Banff. They provide water and food bowls, a bed, treats and a take-home toy for your treasured family pet. A $30 pet fee applies per night.
The only real complaint I see from guests at the Dorothy Motel is that you need to pick up your keys at the nearby Hotel Canoe & Suites. This isn’t ideal, but it’s literally right across the street from the Dorothy, so it’s not a major inconvenience. On the flip side, guests at the Dorothy Motel get complimentary use of the rooftop hot pools at the Hotel Canoe & Suites!
We recently stayed at the Dorothy Motel and had an excellent experience. For more information and lots of pictures, don’t miss our Dorothy Motel review.
2. Red Carpet Inn
Best cheap hotel on Banff Avenue with free parking.
One of the most booked cheap Banff hotels on this list, the Red Carpet Inn is a classic budget hotel right on Banff Avenue. The reason the Red Carpet Inn is so popular is due to the fact it is often one of the cheapest hotels in downtown Banff, coupled with free underground parking and a very walkable location.
The Red Carpet Inn is just a 7 minute walk from downtown Banff, but if you’d like to see some of the further afield Banff attractions such as the Banff Gondola, Banff Upper Hot Springs, the Banff Springs Hotel, etc. you can take advantage of the free Roam bus passes.
Guests of the Red Carpet Inn can soak their bones in the indoor hot tub after a day of epic adventure in the Rockies.
If you are traveling to Banff on a budget, you’ll be interested to know that guests of the Red Carpet Inn enjoy the ‘Key to Banff Savings Program’, which gives you discounts at many Banff restaurants, shops and attractions.
3. Banff Aspen Lodge
Best cheap hotel with central location and free breakfast.
The Banff Aspen Lodge is a great option for visitors who are looking for good value for their money. It offers a good mid-point between bare-bones hotels and more expensive full service properties.
Only a 5-minute walk to downtown Banff, the Banff Aspen Lodge has one of the best locations of the affordable Banff hotels on this list. Simply park your car in the free parking and explore this charming mountain town on foot.
What sets the Banff Aspen Lodge apart from the other affordable Banff hotels on this list is the generous free breakfast buffet. In a market as hot as Banff, it’s rare to find a hotel which offers free breakfast, let alone one this good!
Eating out in Banff is expensive, so a great strategy to save money in Banff is to eat as much breakfast as possible, allowing you to have a small lunch – effectively skipping paying for two restaurant meals in one day.
Most people come to Banff National Park to spend time in the great outdoors. Another of my favorite amenities at the Banff Aspen Lodge is the open air hot tub, complete with an outdoor fireplace. You’ll also appreciate that many rooms have balconies or outdoor sitting areas, allowing you to enjoy even more time outdoors.
Banff Aspen Lodge is pet-friendly, with a nightly fee of $25.
4. Best Western Plus Banff International Lodge
Best for travellers who want a familiar chain hotel with free breakfast and a pool.
The Best Western Plus Banff International Lodge offers a good compromise with a central location near downtown Banff, but also a quieter location just off of Banff Avenue. If you are driving to Banff, you can enjoy the complimentary parking and a pleasant 10 minute walk to downtown Banff.
Similar to the Banff Aspen Lodge, the Best Western Plus Banff is one of the few hotels which offer a free breakfast buffet. If you are concerned with the overall cost of a trip to Banff, starting your day with a hearty free breakfast will make a big difference.
While many of the budget-friendly Banff hotels on this list are owned and operated by hotel chains well known by locals, the Best Western is the only internationally-known hotel chain on this list, which can give international visitors a sense of comfort who want an easy, no-surprises stay.
You won’t give up the popular amenities with a stay at the Best Western in Banff. Guests will enjoy use of the indoor swimming pool and hot tub.
5. Tunnel Mountain Resort
Best cheap cabin-style stay for families.
In the days before we moved to the Banff area full time, the Tunnel Mountain Resort was my go-to hotel for weekend stays. I’m always on the lookout for Banff hotel deals, and the Tunnel Mountain Resort always offered the best value for my accommodation money.
On of the many reasons I enjoyed staying at the Tunnel Mountain Resort is its amazing location. It has a wonderful wilderness setting on the lower slopes of Tunnel Mountain, giving you the sense of being in the middle of nowhere, yet it’s only a 5 minute drive to downtown Banff!
If you don’t want to blow your budget on in-town Banff parking, you can enjoy the free parking at the resort and take advantage of the free Roam passes to get to town and back. There’s a bus stop right in front of the hotel.
The Tunnel Mountain Resort is features on many of my best Banff hotels lists. The rustic cabins available at the Tunnel Mountain resort earned it a spot on my Best Banff Cabins list. Meanwhile, the large rooms with available kitchen suites, playground and indoor pool and hot tub earned it a top spot on my list of the best family-friendly hotels in Banff.
6. Banff Park Lodge
Best for budget travellers who still want a pool and central location.
Of all the cheap Banff hotels on this list, the Banff Park Lodge has the best location. The Banff Park Lodge is located on the shores of the beautiful Bow River, yet just a few blocks from downtown Banff, offering guests of this inexpensive Banff hotel the best of both worlds – nature and urban amenities.
There’s plenty of things to do near the Banff Park Lodge. A short walk north on the Bow River walking path will lead you to the popular Fenlands Loop Trail. If you go south on this easy Banff walk, you can walk all the way to the Bow Falls and the iconic Banff Springs Hotel. In addition, two of the best Banff museums are just a short walk along the Bow River.
The Banff Park Lodge has a long list of amenities, giving you excellent value for your money. This inexpensive Banff hotel offers guests a heated indoor pool, a hot tub, steam room and a fitness centre.
Note, that while underground parking is available at the Banff Park Lodge, it is not free.
Back when I lived in Calgary, I stayed at the Banff Park Lodge for a business conference, and I appreciated it’s excellent location as well as its cozy mountain-style ambiance.
7. Banff Rocky Mountain Resort
Best affordable Banff resort with lots of amenities.
Hidden away in a forest setting at the corner of Banff Avenue and Tunnel Mountain Road, the Banff Rocky Mountain Resort offers its guests a ton of amenities at an affordable price.
This inexpensive Banff hotel has an indoor swimming pool, an indoor & outdoor hot tub, a health and fitness club, squash courts, tennis courts and a basketball court. There’s even a play area for the kids!
With the beautiful setting and the long list of amenities, we wouldn’t blame you for spending all your time at this affordable Banff resort hotel. When it’s time to go into town, the Banff Rocky Mountain Resort offers a free shuttle service to town, or you can drive yourself – it’s only 6-minutes away.
In addition to the standard hotel rooms, guests at this affordable Banff hotel can stay in a loft, or a 1-bedroom apartment or even a 2-bedroom apartment. Many of the rooms feature a full kitchen, enabling you to stretch your Banff travel budget even further by cooking a few meals.
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The Best Cheap Hostels in Banff
If you are willing to give up a little privacy and perhaps be willing to share a bathroom, you can save a ton of money on your trip to Banff and make some new friends at one of these affordable Banff hostels.
1. Samesun Banff
Best cheap Banff hostel for social travellers.
Just a few blocks away from downtown Banff, the Samesun is a popular Banff hostel with budget travelers.
Private rooms are available at the Samesun Backpacker Lodge with 1 or 2 double beds. These rooms may well be the cheapest hotel rooms in Banff. The private rooms at Samesun Banff are nicely appointed, but very basic with shared bathrooms.
If you are looking for a single bed in a dormitory style room, you can get a very cheap place to stay in Banff. The Samesun Banff has a selection of mixed and female-only dorm rooms with anywhere from 6 to 14 beds per room.
You can save even more money on your trip to Banff by taking advantage of their simple free breakfast. Then for the rest of the day, you can use the shared kitchen to cook your own meals. The Banff IGA grocery store is just a few minutes walk down Banff Avenue.
A big draw for many of the visitors to Banff on a budget who stay at this hostel are the public meeting areas and of course, the on-site bar where you can get cheap meals and drinks. At the Samesun, it’s easy to meet other budget Banff travelers and fun to exchange stories and ideas for Banff adventures!
2. Banff International Hostel
Best cheap hostel for quiet travellers and groups.
The Banff International Hostel also has an excellent location, just a few blocks away from downtown Banff. As a nice coincidence, it’s only a block away from the Samesun hostel, so there’ll be no shortage of travelers to meet in the area!
You’ll have everything you need at this inexpensive Banff hostel. Guests of the Banff International Hostel have access to a full kitchen or can use the BBQ outside. There is a computer station, an onsite liquor store and lots of indoor and outdoor gathering places to meet up with other Banff travelers.
You can choose from a wide variety of rooms at the Banff International Hostel. Private rooms with private bathrooms are available with anywhere from 2-to-8 beds.
Renting a bed in a shared dorm is one of the cheapest ways to stay in Banff. Shared dorm rooms are available in male-only, female-only or co-ed, with 4 to 9 bunks per room.
Banff Hotel Deals and Money-Saving Tips
Due to the high popularity of visiting Banff National Park, hotels often have no difficulty selling out, therefore you will find that there are often no true “Banff hotel deals” to be found. That said, there are several strategies to save money on your Banff hotel reservations.
Visit Banff in the Cheaper Seasons
Visiting Banff in Summer and over Christmas are the most expensive times of year to visit Banff National Park. If your travel dates are flexible, you can enjoy lower accommodation prices if you can visit in the shoulder seasons.
You will often find Banff hotel deals if you can visit Banff between late April and early June, late-September to early October and November to early December. If you’d like more information on what it’s like to travel to Banff in shoulder season, we have an excellent guide on Exploring Banff by Season.
Personally, I think September is one of the best months to visit Banff National Park. The weather is usually good, the crowds start to thin and the Banff larch tree hikes will blow your mind.
Avoid Weekends If You Can
Banff hotel prices usually spike on Friday and Saturday nights, especially in July and August and on long weekends. This is especially true for the hotels nearest to downtown Banff.
If you can skip staying in Banff on a Saturday night, opting for a Thursday-Friday or Sunday-Monday stay, you can make a noticeable difference in your Banff hotel bill.
Book Early for Peak Season Stays in Banff
You’d be surprised at how early people start planning their peak-season Banff trips. It’s not uncommon for us to do Banff travel consultations for people anywhere from 8-12 months out.
Due to the eye-watering cost of Banff hotels in summer, it’s no surprise that the cheapest hotel rooms in Banff are often the first to sell out. If you need to travel to Banff in peak season, I’d recommend booking an affordable Banff hotel with free-cancelation as early as you can. Then continue to look for better options as you get closer to your trip.
Choose Hotels With Money-Saving Perks
As you’ve seen above, several of my recommended cheap Banff hotels come with money-saving perks which can help reduce the overall cost of your trip to Banff National Park. Whether it’s the Banff discount program at the Red Carpet Inn, free breakfast at the Banff Aspen Lodge or free parking and Roam passes at the Tunnel Mountain Resort, these value adding perks will save you money on your trip.
Consider Hostels or “Almost Hostel” Options
If all you are after is the cheapest place to stay possible in Banff, the hostels are your best option. The Town of Banff only has two hostels: The Samesun Hostel is considered the more social of the two, while the Banff International Hostel is quieter and more relaxed.
If you’re happy with a dorm bed and shared facilities, you’ll save a good money by staying in a hostel and using the kitchen to cook some of your meals.
Compare Banff vs. Canmore Prices
Canmore (my hometown) is a mountain town just minutes outside of the Banff National Park gates. With it’s cozy alpine feel, the Town of Banff is undoubtably charming, but Canmore also offers an incredible setting in the Canadian Rockies.
Just a 22-minute drive to the Town of Banff, Canmore offers an excellent selection of shops, restaurants and places to stay. Canmore is often an excellent choice for people looking to find a Banff hotel deal. Accommodations are cheaper in Canmore and you get better value for your money.
Not sure about Canmore? We have written an article comparing Canmore vs Banff, as well as a similar list of the best cheap hotels in Canmore.
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We hope you found an affordable play to stay on our list of the best cheap hotels in Banff!
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Dan Brewer, a life-long Alberta resident, calls Canmore home along with his wife and two kids. He is the co-owner of Travel Banff Canada, where he gets to share his passion for the Canadian Rocky Mountains. Dan, along with his family, love being outdoors doing one of the many activities they enjoy in the mountains: hiking, mountain biking, paddleboarding, skiing, snowshoeing and cross-country skiing.
When he's not in Canmore enjoying one of his favourite local hikes, you can find him hopping on a plane to explore a new country with his family or working on one of their other two travel sites: Family Can Travel and Baby Can Travel.