Aspen Offers Year-Round Rocky Mountain High : When skiers leave Colorado resort, culture vultures arrive and prices dip.

For a pretty little mountain village with a worldwide reputation for being an aerie of the beautiful people, and a place with wintertime prices to match its 11,000-foot mountains, Aspen can be a summertime steal for anyone interested in the good life minus snow.

What it offers, in addition to majestic scenery and air so bracing it could be bottled as a tonic, is a combination of neighborly lodging and dining costs--plus a full schedule of festivals spanning the gamut of music and the arts, food and wine, theater, sports, dance, literature, and the Aspen Institute’s nine-week free lecture series.

Aspen hasn’t always been up to its ears in culture. Indeed, it began as a rough-and-ready mining town when silver was discovered in nearby Leadville in the 1870s. Men outnumbered women 3-to-1, and drinking (40 barrels of beer daily), lawlessness (100 arrests monthly) and “sporting women” were a daily part of the raucous scene.

The arrival of two railroads in 1887 made Aspen the region’s biggest producer of silver, an ephemeral honor that proved meaningless when the price of silver went through the floor six years later. Folks left town like they were fleeing the plague.

Skiing first arrived in the 1930s, thanks to an enterprising Swiss who knew a superb layout when he saw it, but World War II put it on hold until an Army division of ski troops began training nearby. They saw the same thing the Swiss did, and veterans returning after the war got the ski craze going again.

War’s end also saw the arrival of Chicago industrialist Walter Paepcke and his wife Elizabeth, who had visions of a cultural and intellectual center where one might pursue development of the “mind, body and spirit.” Paepcke’s dream and considerable resources, along with that of other astute visionaries, soon gave Aspen world-class recognition as both a skiing and cultural center.

Lest anyone get the idea that a summertime visit to Aspen must involve only heady intellectual or cultural pursuits, rest assured that less weighty joys, diversions and delights abound.

Summertime Aspen opens miles of mountain bike trails for the entire family. Para-gliding and white-water rafting lure the adventurous. And golf, tennis, rock climbing and horseback riding are ever popular. One may even take a daylong llama trek (llamas carry the gourmet lunch and wine), or finesse a trout straight from the Frying Pan River into a pan sizzling at riverside.

If just the thought of all this activity induces frightful fatigue, try sitting beneath a shimmering aspen beside an alpine lake with a good book. It’s the ultimate Rocky Mountain high.

Getting settled in: An excellent example of low lodging costs in spring and summertime Aspen is the Mountain House, a charming small place just a few blocks from village center. The pretty lobby has a stone fireplace and a forest of ferns. Step down a few stairs to an inviting lounge and breakfast room (the only meal served). Bedrooms all have cable TV and small refrigerators, and most have outdoor decks.

Larger but just as close to the center is Aspen Mountain Chalet, owned for 35 years by a former New Englander, and a town fixture. A large fireplace in the homey lobby, board games and newspapers give it a very informal feeling, perhaps the reason why 90% of the comments in the chalet’s guest book are from repeat visitors. Bedrooms are simple but tasteful, all with fridges, and there is a heated outdoor pool, large Jacuzzi, exercise room and sauna. Affable owners Ralph and Marian Melville are usually at hand overseeing everything.

Featherbed Mountain Lodge, two miles from town and surrounded by towering pines and cottonwoods, is an A-frame affair, simply and charmingly decorated with handmade quilts on walls and a few antiques, plus a deck over the bubbling creek out back. There’s a heated pool, hot tub and sauna in the patio, and horses for rent nearby. And the free town bus stops outside twice an hour. A large continental breakfast is included in the room rate, with free coffee, tea and cookies always in the sunroom.

Regional food: Pegging this is difficult, since there are almost 100 restaurants in the village, with food from the world’s four corners: Thai, Italian, Mexican, Swiss, Chinese, French and Japanese, quite an array for such a small town.

Local dining: Here are four longtime favorites of locals and visitors alike:

Little Annie’s (517 E. Hyman Ave.) leans on such rib stickers as country-style ribs, mixed barbecue, grilled fresh salmon and a ribs-and-chicken combo, all in the $13 range and all with French fries or baked potato, cole slaw or vegetable. A New York strip is $14.95, and customer clamor for a chicken-fried variety finally paid off at $9.95. The sign over an always crowded bar proclaims Annie’s special of a “shot and beer for $2.25,” her small contribution to the good life.

The Red Onion (420 E. Cooper Ave.) is hardly a member of the renowned chain, being Aspen’s one remaining saloon operating in the original location (with original bar) since the town’s heyday in 1892. Today it’s a Mexican food place, with an extensive menu of everything one would expect, although many hard-core regulars take a firm stand for the fish and chips. Nothing on the menu exceeds $10, and most items are considerably less.

Cantina (411 E. Main St.) is an upscale version of Mexican, with more selections and slightly higher prices than the Red Onion. Large and spread out, Cantina has a pleasant open patio for summer, with six types of Mexican beer and a like number of domestic. Plan on paying under $10 for the usual combination plates, a few dollars more for the fajitas al carbon , baby back ribs and other specials.

Every soul in town, it seems, loves the Main Street Bakery & Cafe (201 E. Main St.), dear to their hearts for the down-home meals served all day. Fresh-baked morning bagels, croissants and scones are served each morning, sandwiches and salads midday. Evening menus include homemade lasagna, ragouts and grilled Tuscan chicken breast with fresh herbs, rice or pasta, the most expensive thing on the menu at $8.95.

Going first-class: The legendary Hotel Jerome has held forth as Aspen’s historic hostelry since 1889, maintaining a Victorian splendor that rates a place in the National Register of Historic Places. Every inch of the hotel is authentic, from the regal fireplace in the lobby to bedrooms and suites awash in period antiques and the lush fabrics favored in the 19th Century. The original cherrywood bar, where lucky miners celebrated their strikes, is just as convivial today. The Jerome Grille, surprisingly affordable in summer, serves linguine tossed with Parma ham, spinach, a basil pesto and Parmesan for $8.95. Our luncheon here was our best meal in Aspen.

The Little Nell has been around a century less than the Jerome, but has nevertheless established an enviable reputation for elegance, comfort and superb service. Built in chalet fashion with a contemporary flair, Little Nell’s bedrooms and public areas are a superb study in warm wood, soft colors and luxurious furnishings.

On your own: In addition to the usual summertime activities, Aspen has a formidable organized schedule. Coming up are the Aspen Institute Free Lecture Series (June 23-Aug. 25), Music Festival (June 26-Aug. 23), DanceAspen performances (July 1-Aug. 22), Aspen Writers’ Conference (July 12-25) and The Aspen Club Open Tennis Championship (July 29-Aug. 2).

GUIDEBOOK: Rocky Mountain Rendezvous

Getting there: There are no direct flights from LAX to Aspen except during ski season. Otherwise, fly United or Continental to Aspen via Denver and change to their feeder airlines. An advance-purchase, round-trip ticket on United and Continental costs $350.

A few fast facts: There’s free bus service in and around Aspen from early morning until late evening, so park your car. Aspen is very informal, with hardly a tie or cocktail dress in sight during summer.

Where to stay: Mountain House (905 E. Hopkins Ave.; $60-$80 double B&B;); Aspen Mountain Chalet (333 E. Durant Ave.; $45-$70 double B&B;); Featherbed Mountain Lodge (1679 Maroon Creek Road; $69-$99 double B&B;); Hotel Jerome (330 E. Main, $189 double); The Little Nell (675 E. Durant Ave., $200-$285, with minimum three-night stay).

For more information: Call the Aspen Chamber Resort Assn. at (800) 26-ASPEN, or write (425 Rio Grande Place, Aspen, Colo. 81611) for “Aspen, the Official Guide,” a 44-page booklet that lists lodgings, restaurants, shops and recreation facilities, plus a calendar of summer events. Also available is more information on specific summer programs, and one may book hotels, special packages and event reservations through this number.