Five of us stayed in a vacation home in Tahoe City, just a short drive to Squaw Valley, Alpine Meadows, and Homewood -- the three resorts where we skiied. All five guys wanted their own bed without getting stuck on the floor or in the living room (getting to the age where we need more beauty rest apparently).
It wasn't easy to find a house to match within our budget, but we finally found one (at the high end) with 5 beds (3 bedrooms, but two of them had two beds each) from Tahoe Luxury Properties for about $360/night.
The timing of the trip had to coincide with the spring break of one of the guys who teaches high school. One cool thing about the timing was that March Madness was in full swing (Sweet Sixteen) and the games started up right after the end of the ski day. Though we didn't get the best weather (windy and cooler than usual for this time of year), and that led to some overly firm conditions at times, we were generally able to find fun skiing at all of these resorts.
Broadly speaking, Squaw Valley tends to draw more people/crowds, while Alpine Meadows (just 5 minutes away) has a more laid-back feeling. The best ski conditions for our visit turned out to be at Homewood, as things softened up after a wet overnight snowfall.
Tahoe City has a ton of places to eat & drink. We hung out at Pete and Peters, which had a strong local feel, pool, and shuffle board. I highly recommend the gourmet burgers that you can order there for delivery from a nearby restaurant. We cooked a couple of dinners at the house, including a BBQ steak night...having a store closeby made it relatively painless everytime we forgot something...
We kinda blew our one dinner night out by waiting too long...don't expect the restaurants to be open late in Tahoe City! We had to settle for bar fare at the Bridgetender, where the burgers might have been a good option -- but not after a late lunch of 1/2 pound gourmet burgers.