We have enjoyed The Banff Springs way back when, but not recently so can't comment on that. Our favorite place is Baker Creek. They are near Lake Louise and have cabins as weeks as the lodge. We have only stayed in the cabins and absolutely love them! That is our go to lodging for Banff/Lake Louise and we have never been disappointed. We first found them on our honeymoon 30 years ago and keep going back.

mms - I recall that on one visit to Banff, there was a nice little restaurant at the cabins, the space rented by a Swiss (?) chef and his wife. I had the best duck with spaetzle at dinner. On the next trip, that couple was gone and it was a different sort of eatery, but I do have fond memories of that meal.

sludick--Yes, they have a little restaurant that has always been very good when we have been. When we first went, 30 years ago, the place was owned by 3 siblings and I think the chef was one of them. I do remember the chef came out and chatted with each group there.

We have stayed in a couple of lower cost options in Banff that are easy walk to restaurants/shopping and are clean/comfortable. The High Country Inn is right on the main drag and has a variety of rooms including family rooms we’ve stayed in with multiple beds. The Bow View Lodge rooms are a bit small, but quiet location by the river very nice-get a river view room with porch.

Hi. I would absolutely recommend the Fairmont Banff Springs. Great resort and location. You could walk along the water to the downtown. Banff is one of the most beautiful places! Great that you will be visiting Lake Louise. You will not be disappointed. We stayed at the Fairmont Banff Springs in 2015. They had a special which included breakfast and early evening drinks and snacks. I can't remember what the special was called but since then we have asked every Fairmont if they offer something similar.

Have a great time.

You have not indicated degree of mobility, interests nor budget.
For all we know you could all be professional wildlife photographers.
Or adventurers.
Or souvenir shoppers.