ST.-MORITZ FOR LESS?
Pretty much everything in St.-Moritz—from hotel rooms to lift tickets to a cup of coffee—carries a high price tag. So if you're looking for bargains, you're probably better off choosing a different ski resort. Rates do fluctuate during the winter (January is less expensive than February), but prices never get particularly low.
If only St.-Moritz will do, the 36-room Hotel Eden Garni (12 Via Veglia; 41-81/830-8100; www.edenstmoritz.ch; doubles from $212, including breakfast) has cozy public areas and a superb location midway between the Palace and the Kulm. Book well in advance, pay a bit more for a brighter lake-view room, and do not expect luxury.
The funky Hotel Misani (70 Via Maistra, Celerina; 41-81/833-3314; doubles from $144, including breakfast) is not in St.-Moritz proper but in the suburb of Celerina, which has direct access to both the Marguns and Corviglia ski areas. While not as glamorous as St.-Moritz, Celerina has its devotees, especially among younger skiers who prefer its more laid-back vibe. Most of the Misani's 38 rooms are decorated in eccentric themes—North African, American Western—and have a spare, modern feel. There's also a stylish bar and two restaurants: one Italian, the other serving everything from tandoori to satay.
Two months ago St.-Moritz got its first new luxury hotel since the early 20th century, the Kempinski Grand Hôtel des Bains (800/426-3135 or 41-81/838-3838; www.kempinskistmoritz.com; doubles from $586). The 184-room property is, like Suvretta House, geared to those looking for a destination unto itself; it's located in St.-Moritz Bad, an outlying part of town along the lake's western shore. A large spa—including, in summer, a medical clinic for procedures such as cosmetic surgery—is one of the Kempinski's chief assets, as is ski-in/ski-out access.