An April 2008 fire burned down the Rainbow Ranch Lodge's original 1919 main building, but a painstaking rebuilding effort has returned the lodge to its former glory. Log-accented cabins perch alongside the Gallatin River, where guests can fish from the riverbank or in the rainbow trout–stocked pond (catch and release). An outdoor fireplace stands beside the infinity hot tub. Animal and fishing motifs decorate the spacious guest rooms, which have wood-burning fireplaces
(most), TVs discreetly hidden behind pictures, filtered water, lodgepole-pine beds, and down comforters. The exceptional restaurant ($$$$), decorated with Western paintings, has one of the state's largest collections of wines, 8,500 bottles, displayed in the Bacchus Room, where groups of up to 10 can dine. Fresh fish is flown in daily. Among the game dishes are mesquite-grilled elk tenderloin and Gorgonzola-crusted bone-in buffalo rib eye.