Revelstoke has plenty of cheap accommodation. Most regular-low end hotels are in the $60-$90 per night range. The Days Inn is about $115 per night but it has a hot tub on the roof and is always full of shred-heads and sled necks. For budget you could stay at the Samesun hostel (Revelstoke Hostel) it's right in the middle of downtown and is like $25/night.
As far as bars, it's definitely not the party scene as you would find in a resort town, but the following 3 bars are where you want to go: The Lyric, Outabounds, River City Pub.
In PowderKing there is basically nothing. They have an on-hill hostel-style hotel, which is super inexpensive, cheaper if you bring your own bedding! There is a restaurant and bar, but don't expect there to be more than a handful of people. If you really want to party go to Prince George.
Have fun on both your trips drowning in powder you lucky bastard! PS, if you want to take me to PowderKing just pick me up in Revelstoke "on the way" and i'll pitch for gas.