First off, Grand Lake in the summer is expensive. So I wasn't surprised that the Lone Eagle Lodge would be a bit pricey. On the other hand, my mid-level room in a chain hotel near Denver International Airport a day later was similarly priced, with none of the ambiance. Second, Grand Lake is THE PLACE to stay if you plan to head eastbound into Rocky Mountain National Park, which is immediately adjacent. Indeed, some of the national park trailheads (e.g. Adams Falls) are just outside of town. Third, Grand Lake is blessed with good restaurants, most of which are walkable from the Lone Eagle. Not to mention, Grand Lake's lake, which is mere steps from the Lone Eagle, is beautifully scenic.
The staff is friendly and helpful. Our rooms were not air conditioned, but despite 90 degree temperatures in Denver, Grand Lake was balmy and breezy in the daytime and chilly at night. Stay away from the entire town if knotty pine decor (indoors and outdoors) is not your thing. I found it quite quaint, however, and reminiscent of places from long-ago road trips with my parents.