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The town is gorgeous and the mountains around it are great for skiing. This one of the places where the super rich swiss people like to relax at so expect to see some very expensive stores, fancy cars, and people in expensive clothing. Its probably a good place for cougar hunting
i live like 3 hours away by car in austria. havent been there in winter season though. closeby are gorgeous lakes where a lot of kiting is going on in summer (although the water is probably pretty cold).
i really like the engadin (the valley st moritz is in), in the lower areas they still talk an old latin "dialect" and there are quite a few ski resorts and beautiful mountains.
if you travel in the other direction over the maloja pass, there is a pretty nice village and you get there towards italy. chiavenna is also a nice little town in that valley.
close to st moritz is a small town on the other side of the lake (cant remember the name). friedrich nietzsche lived there for a while and i think there is a small museum. the small airport in samedan, a few miles down the valley, is also fun to check out with some nice private jets landing all the time. even saw little red carpets rolled out.
basically, its the aspen of europe. maybe they still have these horse-ski-races on the lakes, but as i said, idk about this time of the year.