This nautical hotel enjoys perhaps Alaska's best location (which is really saying something), at the very end of Homer Spit, 5 miles out in Kachemak Bay. Room choices are many, with a broad selection of sizes, styles, and prices. There's a good seafood restaurant on site called the Chart Room, with a riveting water view across the beach to where otters loll on the waves and boats pass by within yards. Entrees are $16 to $38, but the best of the menu is the appetizers, of which you can make a meal.