We stayed at The Wolfs Den Lodge in July where you can rightly assume it was not for skiing but biking.
First off, when we checked in there was no one at the front desk and were advised to go around to the convenience store to check in there. Once we found this store the check in was fine but the procedure was a bit odd in my opinion.
The rooms are plain and basic - two beds, table, lamps, desk, TV, small window, no balcony, no AC - and the bed was a bit hard, but the price is suited for the budget traveler.
And best of all it's on the hill so you can ride right up to your door.
I was feeling pretty good about this place when my kid took a shower and the pipes started flexing and groaning and the rush of water forced me turn up the TV just to hear it.
But this was offset by the fact you can bring bikes into the rooms so you don't worry about them being nicked in the dead of night. And they even supply each room with rags so you can wipe down your bike, so don't use the towels, and don't ride in the halls.
Think of the Wolfs Den Lodge not as a hotel/motel but more like dormitory. There's a common area out front with pop and snack machines and jacuzzis downstairs which adds to the atmosphere as a casual meeting area after a long day of biking or skiing.
It was also pretty quiet too, but I assume it's party central with the ski crowd during the winter.
Just don't expect that four star service can be had on the cheap. With anything on a budget you take the good with the bad and the Wolfs Den lodge is no exception.

We stayed at the Wolfs Den Lodge in March for a ski trip - very well located for the ski lifts, and could ski right back to the door. Also turned out handy that the first-aid post was next door. Good for the bus-stop into town too.
Rooms were basic but comfortable, with fridge and table & chairs so you could make your own breakfast (none served). Ski lockers, hot tubs, microwave and internet also available. Reception staff friendly and helpful (like everyone in Fernie).
Could have been cleaner, but it was fine for us.

Spent 11 nights at the Wolf's Den Lodge in January / February 2010; this is the second season staying here and our third season in Fernie.
Having stayed both in town and on the hill, on the hill is much better if you have gone to ski and not for the nightlife which can be limited and usually finishes quite early in comparison to other resorts both in the US / Canada and Europe.
As a party we have stayed at the Wolf's Den before so we knew what to expect and contacted Wolf's Den direct when we booked with our tour operator to request our room so we had great views of the mountain. Top floor is also better as you have less 'guest' noise when for some reason people still want to walk around in their ski boots; each room has its own ski / boot locker which is big enough t fit four full sets of skis, poles and boots in.
Yes the rooms are very basic and can be quite crampt if there are four people sharing. Having listened into 'staff briefings' I think there may have been a few staffing issues which resulted in a number of housekeeping issues; staff this season appeared to be very young which may explain the reason they required guidance in basic housekeeping. However all you need to do is talk to the staff and they are more than willing to help and will try their best to sort out any problems you have.
The hot tubs are basic but very welcoming after a hard days skiing, fresh clean towels are provided along with shower facilities but it is just as easy to walk to your room and shower.
The bathrooms are small but functional and yes could be said to be looking a little bit tired; however new soap was left daily and the water was always very hot. The shower, which is quite powerful, however does sound like a jet taking off when turned on but this was used as a wake up call for our party. Wolf's Den has adopted the same policy that may of the big chains have with regard to laundry and helping the environment; if you hand your towels up they think you dont want them changing - dump them in the bathtub if you do.
For a basic no frills holiday where the most important factor is your skiing I would recommend Wolf's Den.

Was excited to spend the end of the Christmas holidays going to Fernie. Staying on the hill sounded like a perfect idea until we got there and saw the hotel....When we walked in we were slammed by a strong smell of chlorine from the hot tub. The staff was friendly enough and checking in was okay. When we got to the room it was sheer disappointment. The rooms are tiny and the curtain was hanging half off, luckily it was only 2 of us. The room was not clean at all. You could tell that it had not been vacuumed before our arrival because there was debris all over the carpet. The bathroom was dirty. Spackles of God knows what on the mirror and the calking was coming off in chunks around the shower and the sink. I was super grossed out because I laid down and put my head on a pillow and then relized that it had no pillow case, just a pillow cover that was not fresh just for me. The bedspreads were dirty with what I hope was pizza sauce or something. The beds were super uncomfortable and had the carpet been clean I may have slept on them instead. Even if I had I may not have been able to sleep though because it was so noisy. The snow equiptment ran all night and all you could hear was dieseI engines and back up beeping. I was just super disapointed and will never stay there again! The only thing it had going for it was that it was on the hill.