Agree with the previous topics. IF the snow holds... and that's the big IF... frankly, I would much rather go to Switzerland or Austria than anywhere in the Western US. Now, before I get pilloried by the skiing right, it is simply a matter of choice. I am much more comfortable in Europe than in the Western US (excluding the coast).
Having said that, you can indeed get some good deals in Zermatt and the surrounding towns. All of them are served by outstanding train service and it isn't uncommon to find the conductor profusely apologizing and totally humiliated because the train was five minutes late.
Please check on http://www.zermatt.ch/index.e.html
and you may find what you're looking for. The star ratings are not as much a discriminator as in the US. As therusty said, a two-star hotel can be an excellent deal. I stayed twice at the Albana Real, a four-star, and it had nothing over a couple of two-star hotels where friends were staying. They just had to walk a bit longer.
The other thing that may make it a bargain is the half-board system. When you look at either breakfast and/or half-board, this may take some of your freedom away, but if you add the normal dining expenses on the economy, the half-board may make sense, as well as getting you to sit with Europeans at the same table.
The Zermatt Grand Hotel, for example, will give you a room, breakfast and a sumptuous dinner for roughly US $300 a day. That's for a five-star. The Albana Real, where I stayed, will run you US $200 a day half-board. A three-star in Tasch, the last motorized town before Zermatt, will run you US $135 with breakfast. And a good two-star may even run as low as $85 a day but it may be farther from the town.
The cultural experience in Europe, especially Switzerland, and specifically Zermatt, makes up for all the traveling and insidious expenses. Zermatt is an amazing town. The internal combustion engine is outlawed, and electric buses will take you wherever you need. But everyone walks. You can get back on your skis literally to the hotel doors. Zermatt is on the headwaters of the Ruhr, so wines and cheeses are plentiful. As well as good hearty and fairly inexpensive food. Locals are super and I found a general friendship towards Americans.
Of course, if you want to hang with the Royal Family, get thee to St Moritz. And spend the price of a Ferrari on your vacation (not really). Actually, I spent six days at the Grand Hotel Kurehous for I think $400 per day and it was with succulent meals and it included ski lifts.
So go Europe and enjoy.