I think you’ll need a car, it’s a long way out of Santa Barbara. Not sure about eating, you have UCSB between the hotel and downtown SB, but the quarter ends Dec 15 so it will be quieter in Isla Vista after that.
There are lots of nice places within driving distance. Solvang is a big tourist destination, with wineries nearby. You might also see a launch from Vandenburg if you are lucky. The drive up to Hearst Castle is quite long (2 hours each way) but also worthwhile if you’ve never been there before.