Stayed at hakuba highland hotel for my 5 days ski trip. Pros: very friendly staff, excellent service, onsen with a panorama/arguably best view of the Japanese alps, buffets breakfast and dinners. Cons: room is slightly old (although they are kept very cleaned); location is rather (not an issue if you are only there to ski as there are daily shuttle buses to the various ski resorts. However, you would need a cab if you intend to look for some nightlife. Genki go bus doesn't pass by hakuba highland). Overall, this hotel is very good valued for money and I wouldn't hesitate to stay there again.
For equipment rental, you would do better trying central snowsport besides happo gondola than to use the rainbow rental besides the hotel. For approximately the same price, you get far better equipment at the former.
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