Around town there are lots of things to do as well has offering fantastic nightlife. Don't listen to the stories about the Mormon drinking laws, they do exist but they just make things more amusing. Ask a local bartender what the score is on this.
No other resort in Utah packs in as many facilities as this one. There is every imaginable type of accommodation available although not many are aimed at budget riders. However, a good cheap option is the Park City Youth Hostel (www.parkcity.com tel 435 655 7255).