Northeast of Tahoe City, the Squaw Valley Bike Park opened in the summer of 2010. There are 12 trails totaling 15 miles for downhill and cross-country riding. With lift access, there is a maximum vertical of 2,000 feet. Make sure to check out the Goat Trail.
The lodging options at Squaw and nearby towns are very limited and very expensive.
Better known for the alpine skiing, this area is not known for its nightlife. For apres ski, try the Loft Bar, but the best bets are in Tahoe City (Pierce Street Annex, Pete & Peters, Naughty Dog) or Truckee (American Bar, Tahoe Taps or the Tourist Club).
Overall, Squaw Valley Bike Park is the 123rd most popular mountain bike trail of all 132 mountain biking rides in California.