We rolled in to town and found this place by chance.... the rate was decent for the 'off season' and the location is perfect. It's located right next to the river - our room had a little balcony overlooking the river, and looking right out at all of the amazing fall colors on the mountainside. You can walk to any restaurant in town within a minute or a few minutes....(Siam and Cosmo are good choices). Sit down and chat for a few with Rico who runs the bar - he's great.
Our first morning there we walked over the little bridge over the river and did the Bear Creek Falls hike - it was a beautiful hike and pretty easy, so convenient to just walk out the door of the hotel and be at the trail head.
My husband and I can hardly believe that September - early October is considered the 'off season' for Telluride... it is probably the most beautiful time of the year to visit. Not to mention the weather is ideal during this time, the rates are more affordable for lodging, and the restaurants offer some deals as well. The only slight little complaint that I had about the IceHouse was that the hot tub water was only luke warm, not hot. But the steamroom made up for it for sure, as well as the nice comfy room, the great service, the location, and everything else.