You get one lift ticket per night booked. The deal is a collaboration with the Winter Park/Fraser Valley Chamber of Commerce, and is therefore good at over 50 locations in the area -- not just the hotels owned by the resort.
Because you only get one lift ticket per booking, the best deal will be for parties of one. For example, I could reserve a bed in a dormitory-style room at the Rocky Mountain Inn & Hostel in for $22 per night. Lift tickets are something like three times that expensive, so that officially qualifies as a good fucking deal. Of course, I am a 22 year-old male on a freelance writer's budget, and maybe you aren't interested in staying in a dorm room.
The cheapest rooms in more conventional hotels are still only $50, at least early in the season, so that's still pretty good. Or, you know, you could stay at vacation home Destinations West for $1,500 per night, in which case you should probably be entitled to nightly rubdowns and an open bar in addition to your free lift ticket.
For details, cruise here.