^^ he is right about the hotels .. and i visited swat last year in january ..
security situation is ALhamdulilah very satisfactory there now a days ....
and about places....in swat there is Minghora(pindi) and saidu sharif (islamabad) .... u can find good quality food in both mingorha and saidu sharif.....places in saidu sharif are neat and clean ...
u must visit WHITE PALACE at marghazar (about 6 km from saidu sahrif .. road totti phutti hay and but it is a very peaceful and beautiful place best in swat ....palce is overlooking a small stream which adds to its beauty.....
then there is MALAM JABBA and SHANGLA TOP on the same road where you will definitly find snowfall there in january.......on malam jabba road in charbagh tehsil u will find buddha statues which were partially destroyed by talibans but then some italian artists tried to restore it...
and then on third direction there is MADIAN (close to madian u will find some trout fish farms ) and from the same road u can reach bahrain (chappal kababs of bahrain are very famous there) these are the places where u can go and come back to your hotel in saidu/minghora in a day...........
u can go to kalam and mahodand lake(though reaching the lake is more like trekking) as well which comes after bahrain on the same road but the road has been destroyed by flood in 2010 and u have to book a jeep to reach there .. there are few hotels there but in january temperature is below -10 c so it is advisable not to visit kalam in this weather .... as hotels there will over charge u as well....
in short SWAT is now a days is very peaceful place and it is a must visit but due to militancy and flood in 2010 most of the infrastrucure has to be re-build ...