I spent a week in Saskatoon one night.
I would call this a provincial all star team, as individual players are or have tried out for the team and have been selected based on their individual contribution.
Depending on the age of the kids, a 7:1 ratio may be a little lite for supervision. When we took a U14 boys team, we put an adult in each room, whereas its not necessary with older kids. I'm guessing that this is younger kids, so more chaperones will require less medication. The use of chaperones instead of coaches is something that our club is getting into. Thats based on the theory that coaches are there to coach, not just "babysit' kids for the weekend.
Renting a bus is the way to go, and we've actually sold extra seats to parents who want to go to offset costs. If you have your choice of hotel, check out those with breakfast thrown in. Its usually just fruit, cereal, muffins, etc, but thats plenty. Even try to negotiate a meal price for the kids, as that can save a lot of hassle.
Be sure that it is clearly understood what is expected of the players and any parents who may attend on their own dime. While its great to have the support, it can get overwhelming if parents take their kids away from team activities.