Hi Steph. Most travelers find it's easiest and most affordable to pick up a rental car at the Calgary Airport.
Also, I'd recommend using Banff as your "basecamp" for exploring the National Parks. Surrounding Banff, as well as Lake Louise - we have 4 National Parks: Banff National Park, Kootenay National Park and Jasper National Park. That being said, redheadlady79 doesn't quite have an idea of how much there is to do and to see in our area.
Here's an idea of how much there is to see and do:
Take 3 days + 1 in Banff to enjoy Banff and surrounding area for 4 days.
-one day for the town of Banff (Banff Gondola, hike to the Banff Springs Hotel and Bow Falls and enjoy town. Rent a canoe or a bike)
-one day for the Lake Minnewanka Road (hike Johnson Lake, Stewart Canyon, and Lower Bankhead). Rent a small tin boat at Lake Minnewanka or take the Lake Minnewanka Boat Cruise. Have a picnic.
-a half day to hike Tunnel Mountain
-a half day to hike Johnston Canyon
- the "extra" day is to do an activity. Options include White Water Rafting on the Kicking Horse River, taking a hike at Sunshine Meadows or going horseback riding.
Based out of Banff - take 2 days to enjoy Lake Louise.
-One day to go for an all day hike in Lake Louise.
- One day to sightsee in Lake Louise: the Lake Louise gondola, a visit to Moraine Lake, renting a canoe, hiking to the Rockpile, having ice cream or a picnic. It all takes time.
-don't forget to drive the Bow Valley Parkway: it's a scenic drive between Banff and Lake Louise. I would also recommend driving the Highway #1 West between Banff and Lake Louise, just to stop at the Castle Mountain Viewpoint.
Take one full day to drive the Icefields Parkway to the Columbia Icefields.
- It's a long day of sightseeing with lots of viewpoints to see along the way. Start your day early and pack a picnic. It's always a highlight of any trip to our region and an absolute "must-do".
- If you like to hike, it's possible and highly recommended to go for a hike at Parker's Ridge. If you're organised it's possible to hike AND take the tour of the Columbia Icefields. I would recommend doing both.
www.explorerockies.com/columbia-icefield/
Other wonderful places to visit: while you are staying in Banff:
Take a full day to enjoy Yoho National Park - spending the day at Emerald Lake and Takakkaw Falls. Go for a hike here - plan ahead.
Take a day to drive through Kootenay National Park. Go for a hike at Marble Canyon. Stop for lunch or dinner at Storm Mountain Lodge on your drive back to Banff. Stanley Glacier is a hike that is in Kootenay National Park. You could do it, as well as Marble Canyon in a day.
So, there it is. So much to see and do.
As far as accommodation in Banff, your starting point is the Banff Lake Louise tourism website. Plug in your dates and see what options and prices are available.
www.banfflakelouise.com
Some budget options that you might consider:
Cottage Bed and Breakfast - 403-762-8181
http://www.telusplanet.net/public/cottage/
Mountain View Bed and Breakfast - open in the summer months only:
http://www.mountainviewbanff.ca/
Alpine Bed and Breakfast:
http://banffalpinebb.com/
A Banff Boutique Inn
http://www.banffboutiqueinn.com/
The Driftwood Inn and The Arrow Motel
www.bestofbanff.com
krp29's suggestions of staying at the Youth Hostels in Banff is a great suggestion. Both the Banff Alpine Centre and the Banff Y Mountain Lodge have nice facilities at a reasonable price. There are plenty of nice budget options in Banff that should meet your price and needs.