10 Cheapest Hotels in Banff to Stay on a Budget

Banff National Park is a very beautiful place with a lot of things to do and places to visit. One of the major challenges tourists face is the cost of securing accommodation. If you are looking to explore Banff without breaking the bank, then you’re in luck because there are a lot of affordable hotels that offer both comfort and convenience.

Whether you’re planning a family getaway, a solo adventure, or a weekend escape with friends, we intend to show you budget-friendly options that let you enjoy the beauty of the Rockies without the hefty price tag.

Fun things to do in Banff

Cheapest Hotels in Banff to Stay on a Budget

Click on the hotel name or the Expedia.com links to check the latest rates. We recommend booking 6-8 months in advance for the best rates on your hotel reservation.

1. Bright Queen-Bed Hotel

The Bright Queen-Bed Hotel is one of the most affordable and convenient places to stay near Banff, offering everything you need for a comfortable visit without breaking the bank. The rooms are cozy and functional, featuring queen beds, Smart TVs, free Wi-Fi, and small dining or sitting areas perfect for winding down after a long day of exploring.

Some of the reasons most guests choose Bright Queen-Bed Hotel is because of its great location within walking distance to downtown Banff, local restaurants, and bus stops, making it easy to access the park and nearby attractions. While some rooms are on the smaller side, many visitors appreciate the cleanliness, secure keyless access, and the friendly, responsive staff who go out of their way to make your stay smooth.

This hotel is a great choice for solo travelers, couples, or small families who want to enjoy Banff on a budget. With its affordable rates, walkable location, and cozy mountain vibe, the Bright Queen-Bed Hotel proves that you don’t have to spend a fortune to experience the beauty of Banff.

Why We Love It

Great location close to downtown Banff and public transport
Affordable rates for budget-conscious travelers
Comfortable queen beds and modern in-room amenities
Friendly hosts and a safe, secure access system
Perfect for short stays or weekend getaways

Book now: Visit Expedia to check for its updated rates and confirm booking.

2. Canmore Inn & Suites

Just minutes away from Banff National Park, the Canmore Inn & Suites is one of the most budget-friendly hotels in the region. It is perfect for travelers who want comfort, convenience, and great value. Staying here gives you access to clean and cozy rooms with modern amenities like free WiFi, flat-screen TVs, microwaves, mini-fridges, and, of course, seeing the stunning mountains.

Despite its affordable rates, the hotel doesn’t compromise on amenities. Guests can enjoy a heated indoor pool complete with a fun waterslide and hot tub, a hit with both families and couples. There’s also an on-site fitness center, business facilities, and free self-parking, which adds to its overall value. For those planning ski trips or outdoor adventures like visiting Lake Minnewanka, the hotel offers ski storage and nearby shuttle access, making it an excellent base for exploring the Rockies.

The staff at Canmore Inn & Suites earns consistent praise for their friendliness and professionalism, helping guests feel at home from check-in to check-out. The property is also pet-friendly, so you don’t have to leave your furry friend behind.

Why We Love It

Affordable rates and great value for money
Indoor pool with waterslide and hot tub
Clean, spacious rooms with mountain views
Convenient access to Banff and ski areas
Pet-friendly with free parking and friendly staff

Address: 1402 Bow Valley Trail, Canmore, Alberta.

Booking: Visit Expedia to check for its updated rates and confirm booking.

3. The Drake Inn

For travelers seeking an affordable and convenient place to stay near Banff, The Drake Inn is a great pick. Located right in the heart of Canmore, this cozy motel-style accommodation provides easy access to shops, restaurants, and outdoor adventures, all without breaking the bank.

The rooms are simple yet comfortable, offering essential amenities like free WiFi, a mini-fridge, a coffee maker, and cable TV. Many rooms feature beautiful views of the surrounding mountains, including the iconic Three Sisters Peaks, making mornings especially scenic.

Attached to the inn is the Drake Pub and Restaurant, a local favorite known for its relaxed atmosphere and hearty comfort food. This place is perfect for unwinding after a day of exploring Banff National Park. Guests also appreciate the friendly staff, daily housekeeping, and free self-parking, which add to the inn’s overall convenience.

Why We Love It

Central location in downtown Canmore
Clean, cozy rooms with a mountain view
On-site pub and restaurant with a local vibe
Free parking and friendly service
Great value for budget-conscious travelers

Address: 909 Railway Ave, Canmore, Alberta.

Booking: Visit Expedia to check for its updated rates and confirm booking.

4. Rundle Chalets

Rundle Chalets offers that rustic alpine charm without the high Banff price tag. It is located just minutes from Banff National Park; these vintage-style chalets provide the perfect retreat for couples, families, or solo adventurers who want a peaceful stay close to the Rockies.

Each cabin-style suite is simple yet comfortable, featuring kitchenettes with a refrigerator, microwave, and toaster—perfect for preparing your own meals. Guests also enjoy free WiFi, on-site parking, and outdoor amenities like picnic areas and barbecue grills, making it a great spot for families and pet owners alike.

While the accommodations are modest, the setting is unbeatable. You’ll wake up surrounded by mountain views, fresh alpine air, and easy access to hiking and biking trails. You can easily hike from Rundle Chalets to the magnificent Johnson Lake.

Rundle Chalets staff are consistently praised for their friendliness and dedication to cleanliness, helping guests feel right at home.

Why We Love It

Classic mountain cabins with kitchenettes
Pet-friendly with outdoor picnic and BBQ areas
Peaceful setting close to Banff National Park
Friendly staff and clean, comfortable rooms
Excellent value for families and long stays

Address: 1730 Bow Valley Trail, Canmore, Alberta.

Booking: Visit Expedia to check for its updated rates and confirm booking.

5. Rocky Mountain Ski Lodge

Rocky Mountain Ski Lodge offers comfort, convenience, and value, making it one of the best budget-friendly stays near Banff. This cozy lodge is perfect for travelers who want an affordable home base close to the slopes, hiking trails, and charming town of Canmore.

Guests can unwind in the sauna or hot tub after a day of adventure, while families will love the on-site playground and picnic areas. The rooms are spacious and equipped with modern essentials, including free WiFi, flat-screen TVs, refrigerators, and coffee makers. Pet owners will appreciate the pet-friendly policy, allowing up to two furry friends for a small nightly fee.

With its excellent location, welcoming staff, and clean, comfortable rooms, Rocky Mountain Ski Lodge is a top choice for families, couples, and outdoor enthusiasts looking for great value without compromising comfort.

Why We Love It

Affordable stay with gorgeous mountain views
Pet-friendly with easy access to outdoor trails
On-site sauna, hot tub, and playground for families
Free parking and WiFi for added convenience
Highly rated for cleanliness and friendly service

Address: 1711 Bow Valley Trail, Canmore, Alberta.

Booking: Visit Expedia to check for its updated rates and confirm booking.

6. Luxury Hotel Room

Luxury Hotel Room is also one of the cheapest hotels in Banff, offering a comfortable, modern escape in the heart of the Rockies. It is a boutique-style accommodation that combines cozy mountain charm with contemporary amenities, making it perfect for couples and small families seeking relaxation after a day of exploring Canmore or Banff.

Guests enjoy access to an indoor pool, hot tub, and fitness center, all within a smoke-free environment. Free underground parking and WiFi add to the convenience, while each room features a fireplace, kitchenette, and private bathroom with a shower/tub combo.

The cozy ambiance, modern amenities, and thoughtful touches like stocked coffee and tea make this stay feel like a home away from home.

Why We Love It

Excellent location near Banff National Park
Indoor pool, hot tub, and fitness center
Free WiFi and underground parking
Rooms with a fireplace and kitchenette
Perfect for couples and short getaways

Address: 187 Kananaskis Way, Canmore, Alberta.

Booking: Visit Expedia to check for its updated rates and confirm booking.

7. Mountain View Inn

Mountain View Inn is an affordable and peaceful place to stay for travelers seeking both comfort and value. With its clean, cozy rooms and unbeatable mountain backdrop, this inn provides everything you need for a pleasant getaway without the steep price tag.

Lodging here gives you access to free parking and WiFi, along with in-room conveniences like a mini-fridge, coffee maker, and dining area, which is perfect for light meals or quick breakfasts before exploring the Rockies.

While the property doesn’t include high-end resort amenities, it makes up for it with friendly staff, quiet surroundings, and proximity to restaurants, gas stations, and outdoor attractions.

Why We Love It

One of the best-value stays near Banff National Park
Free parking and WiFi
Spacious rooms with a dining area and mini-fridge
Peaceful location yet close to downtown Canmore
Friendly service and stunning mountain views

Address: 100 Kananaskis Way, Canmore, Alberta.

Booking: Visit Expedia to check for its updated rates and confirm booking.

8. Northwinds Hotel Canmore

Northwinds Hotel Canmore combines rustic charm with modern comfort, offering travelers a welcoming stay in the heart of the Canadian Rockies. The hotel features free parking, high-speed WiFi, and an on-site restaurant, making it an ideal stop for both short visits and extended stays.

Whether you’re here for hiking, skiing, or sightseeing, Northwinds provides a convenient base with easy access to mountain trails and Canmore’s downtown shops and cafés.

Each of the rooms includes LED TVs, coffee/tea makers, air conditioning, and cozy bedding for a restful night’s sleep. Pet lovers will also be pleased to know that cats and dogs are welcome at no extra cost (in designated rooms).

Why We Love It

Excellent location near Banff National Park
Pet-friendly rooms (cats and dogs stay free!)
On-site restaurant with great reviews
Free WiFi and parking
Clean, quiet rooms with helpful staff

Address: 1602 2nd Avenue, Canmore, Alberta.

Booking: Visit Expedia to check for its updated rates and confirm booking.

9. Silver Creek Lodge

Silver Creek Lodge offers a relaxing retreat with a full-service spa, health club, and garden. Guests can enjoy Japanese cuisine at the on-site Wild Orchid Asian Bistro, which specializes in sushi and dinner service.

Additionally, lodging here gives you access to free WiFi and self-parking, making it convenient for travelers exploring the Rockies. The rooms are thoughtfully equipped with fireplaces, air conditioning, 32-inch HDTVs, microwaves, and DVD players, providing a cozy and spacious atmosphere.

Why We Love It

On-site spa and wellness services
Sushi restaurant for dinner
Free WiFi and parking
Spacious, comfortable rooms
Close to outdoor activities: skiing, hiking, biking, and more

Booking: Visit Expedia to check for its updated rates and confirm booking.

10. Chateau Canmore

Chateau Canmore is one of the cheapest hotels in Banff, offering a full suite of amenities, including indoor and outdoor pools, a hot tub, sauna, fitness center, and a bar/restaurant. Guests can also enjoy cooked-to-order breakfast, free in-room WiFi, and convenient self-parking.

There are over 90 rooms in this building, with each of them featuring fireplaces, premium bedding, mini-fridges, microwaves, and separate sitting areas, ensuring comfort and relaxation.

The hotel is also pet-friendly (fee applies) and offers accessible rooms and elevators.

Why We Love It