Rick - While I don't think there are any hotel/motels in Alton Bay, I think I see one right at the Alton Traffic circle at the Rt 28 West outlet of the circle.
However, I would recommend Ames Farm. They have rooms and cabins and serve breakfast AND you can use their (now closed to the public) ramp if you are staying there. Their ramp is one of the best on the lake with ample and close parking and docks. Ames will put you right behind Rattlesnake and Diamond Islands and close to Welches so you have access to some pretty good fishing there (much better than Alton Bay IMHO). There are really no hazards to worry about in this area though the southwest corner of Diamond has an underwater point that extends out about 100 yards that has grabbed a few of my lures as it quickly goes from 30 ft to 12 ft no boat danger - just danger of losing lures or a DR ball.
Alternatively, you can rent a small cabin at Roberts Cove and they have a marina there ($20 launch fee) with easy access to Black Point at the top of the bay. Roberts Cove and Ames are sort of directly across the lake from each other at the top of Alton Bay.
If you go a few more miles north, you can try B-Maes or Silver Sands and have easy access to Welches Island and Governors.
If you feel uncomfortable on the lake, I would STRONGLY recommend picking up a Bizer map. They cost about $20 but are worth every penny for all the info they contain. You can pick one up in Wolfboro (a bait and tackle shop right in downtown...Wolfboro Sports I think) or at Paugus Bay Sports in Weirs or up in Merideth at AJs but AJs is the longest ride for you. They MAY even have them at the Alton Circle store.
I would recommend the Bayside Inn on Alton Bay. I have stayed there for the last 4 Derby's and a couple other times in between. It is not cheap (about $100 a night) but the rooms are immaculate and they have dock space right on the bay 10 steps from your door.
You can shove off from the dock and start fishing immediately. We have caught fish within 50 feet of the dock. A short distance toward the main lake you will find Pumpkin Point where we have had very good luck. You can head out to the spots mentioned above from there. If the weather is too rough for your boat you can always stay in the bay.
