There are many top restaurants in the area. The nearby Galleria Mall offers both dining and shopping.
And we currently recommend two hotels for lodging:

Hampton Inn and Suites

2013 RR 620 South
Lakeway,Texas 78734
1.800.426.7866  hamptoninn.com

Mountain Star Lodge

3573 RR 620 South
Austin, Texas 78738
1.888.263.2010  mountainstarlodge.com