Local lodges, inns and guest houses
This is an example of the many local places to stay in the town. In the winter, you can park your snowmobile right out front.
I haven't stayed in the town overnight so I can't comment on the quality of any of the accommodations, but several of them looked quite tempting.
Grand Lake Colorado
"Western Entrance to Rocky Mountain National Park"
The village of Grand Lake is our favorite place to stay when visiting the Rocky Mountain National Park, even though it is on the opposite side from which we usually arrive. Most tourists prefer Estes Park, but we find this site to our liking. It is more "rustic" and has less to see and do than Estes, but is less expensive and hectic.
Just a half block or so from the main street of town, Grand Lake is large enough for speed boating, water skiing, and sailing. I don't know much about the fishing here, but you do see lots of children fishing from the marina docks, often with rented equipment. There's also a very small beach, but I would guess the water is too cold for swimming until late in the summer.
This view was on a cool day in mid-June before the peak of the tourist season.