I was meant to spend two days in Banff, and as I sit at my desk writing this, that was five years ago. Currently I'm working at the HI hostel in Lake Louise, and have also worked at the Banff HI. My obviously biased opinion, is that there both worth staying at, for different reasons. The Lake Louise hostel is quiet through the winter, and is perfect if you're looking for early starts up on the hill - there's a free shuttle to the ski hill that picks up across the street, and the front desk sells discounted lift tickets. The Banff hostel (and Banff in general) is much more of a party place, the HI even has a bar in the basement.
In regards to tours, there's heaps of stuff that you can book once you're here - Explore Rockies and Discover Banff Tours are both pretty reputable companies that offer a variety of things to do - hike on a frozen river, sightseeing tours, etc.
Hope this helps! almost 7 years agoAnswered by Shaun via WorldNomads.com