Tsapatagh
This luxury western hotel is built in the village of Tsapatagh, about a 15-20 minute walk from the lake. With a hot tub and traditional restaurant also in the village, this is a place where expats and tourists tend to get away from the hustle of Yerevan.
Painters Rest House
Very popular, and usually booked well in advance, the painters rest house is a simple and reasonable place to stay, with full board. Guests don't have to be painters, and the place attracts many of Armenia's old school hip intelligentsia.
lodging
There are a few good options, but some fill up months in advance for the summer months. Many places shutter their doors during the off season. In this area, it's best not to count on just showing up and finding something.
camping
You can camp just about anywhere you like in the area, from beach to mountaintop, but be sensitive to the environment in this sensitive protected area.
backcountry
There are no fences, so you can hike as far as you like. Be sensitive to the plants and animals, and avoid the border with Azerbaijan.