Gone are the days when the exchange rate meant your U.S. dollar bought way more in Canada than it did at home, but we can thank the tanking economy for the massive price cuts at our northern neighbor's luxury hotels. Room rates are down some 35 percent at Le Sommet Des Neiges, the crown jewel of the Mont Tremblant base village, meaning a hotel room with a king bed will run you just $216 Canadian in mid-January. This

Gone are the days when the exchange rate meant your U.S. dollar bought way more in Canada than it did at home, but we can thank the tanking economy for the massive price cuts at our northern neighbor's luxury hotels. Room rates are down some 35 percent at Le Sommet Des Neiges, the crown jewel of the Mont Tremblant base village, meaning a hotel room with a king bed will run you just $216 Canadian in mid-January. This gives everyone a chance to experience the lap of Québecois luxury. The red-and-silver towers of the Le Sommet are the first sign to visitors that this ain't no Best Western. Inside, an elegant sitting room with an octagonal fireplace serves as the main lobby, with other public spaces featuring teak bookcases, large windows with views onto the slopes, and even a baby grand piano.

Well-appointed bathrooms feature granite counters and brass fixtures, though some complain that the furnishings and linens—kings, doubles, and suites with fireplaces and kitchenettes—are too pedestrian for the price tag. Full kitchens in the suites give you a place to make your own breakfast (there aren't many affordable dining options in or near the hotel). But a short walk to the village here in "Whistler East" and you'll come upon a Francophile dream. The local specialty, "poutine" fries, gravy, and cheese curds), is in huge supply.

Tremblant is an all-ages affair, with plenty of events and activities for kids. Or have Le Sommet's concierge book you a babysitter and head out to Le Petit Caribou, one of the ski resort's most infamous party spots. With all the savings, you won't feel guilty ordering off the top shelf.

A former senior editor at Skiing magazine, Pieter van Noordennen owns more ski jackets than any man should.