I have been to Zambia a few times and I was lucky enough to visit the fall last November. I was staying with friends in LUN so they picked us up at the airport. I was mostly out in a place called Kaoma in Western Province which is about 7 hours west of LUN.
The Holiday Inn or InterContinental are two good options for hotels in LUN. There are two shopping malls that pretty much look like anything you would find in the UK that have some nice places to eat. The malls are called Manda Hill and The Arcades. They are on the Great East Rd and you will pass them on your way in from the airport.
We flew from LUN to LVI using proflight. I booked the package to LVI that consisted of flights and accommodation with Trailfinders. The flights are fairly regular to LVI. Their website is
www.proflight-zambia.com. As you have only four days I would say flying is the best option as the bus from LUN would take up to 7 hours! Although, the bus station at 6am is an amazing experience!
We stayed in the Royal Livingstone...what an amazing hotel!! It is a short walk from the falls (free entry to the park) and you can actually sit out in the morning having breakfast and hear the thunder of the falls and see the mist rising from them. There is another hotel called the Zambezi Sun which is also quite nice and in the same area as the Royal Livingstone. The town itself also has a lot of tourist hostels.
We booked the bungee/gorge swing - couldn’t manage the courage for the bungee from the bridge! Also, we did white water rafting for a half day which was cool and then we took a micro light flight over the falls in the afternoon. I would recommend one thing that you have to do...you can book a tour of Livingstone Island and you can actually walk along the edge of the falls...and if you are brave enough you can swim at the very edge (there is a pool at the very edge which you can jump into!!). This depends on what time of the year you are there. Our guide was excellent and we got a very nice lunch. In November the falls are quite dry as the main rains haven’t come yet.
Going across to ZIM is a must. You can get a taxi across and you must pay for a visa which costs €50-€60 I think. The taxi driver will give you his number and can come back to pick you up if you want. The ZIM side of the falls is the most amazing side in my opinion. Also go to the Victoria Falls Hotel (in ZIM) and have the afternoon tea. It is a lovely old hotel...or better still you could stay there for a night!
You can buy the lonely planet chapters for Zambia and Livingstone online and they might be worth a look.
Zambia is an amazing place and the people are so friendly and I'm sure you will have an excellent time!
Enjoy!
Sorry I forgot to add some of the costs...
3 nights accommodation B&B with flights and transfers was around €914 pp. This also included a tour of the falls and a sundowner cruise (which wasn't great to be honest). All activities in LVI came to about €350 pp with the most expensive being the Livingstone Island 1/2 day tour at about €120 pp.