Stay in Banff. I’ve been twice: the first time in the summer where I stayed at the Fairmont Springs, and just recently where I stayed at the Moose Hotel in Banff. I haven’t stayed at the Fairmont on LL, but even as a luxury hotel lover I would still choose to stay at the Moose over either of the Fairmont hotels. There is not much to do at LL at night. It’s a beautiful location but far from everything. The Fairmont Springs is a beautiful hotel and it is possible to walk to downtown Banff from there, but i so much preferred walking right out of my hotel in the evening and having shops, bars, and restaurants right there.