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Go to the old downtown & hit the shops. Many times around big holidays the shops will give you discounts. Also note, most of the shops didn't have the very high prices that Aspen and the other resorts are known for for just as nice of clothing. There are also many great resturants.
If you still looking for a place to stay vacation rental condos are a lot less than staying in a hotel and you get so much more.
Be sure and take the free city bus around town. Great views along the way.