The pub is a must on any trip to Lake Placid. The beers are great and it's off the main drag. The recent addition, the Hop Loft, provides some additional space during peak times; I still prefer the second floor though.
If it's your first time, try a sampler. The seasonal beers are what draw me. The Pumpkin UBU is a great way to end the day. It's refreshing, not heavy or over flavored. Pair that with a maple melt and you won't regret it.
A quick tip: PJ O'Neils on the lower level does not serve food, but they do have salty popcorn. If you're looking to eat, head right upstairs. If you are looking to just hang out, then downstairs is the place.
Finally, parking has gotten worse here with the new hotel next door. Since I typically stay at the hotel, it's not a problem. But if you are staying elsewhere, enjoy the walk over or from a parking spot if one isn't nearby. There are a few meters to keep people from parking all day in the small lot next to the hotel. Don't let that keep you away, though.
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