You might want to walk, as Midelt is not huge, but taking a petit-taxi is also possible. Expect to pay around Dh. 10 for anywhere in the city.
The food in the hotel Ayachi restaurant is not that bad either, especially the apple-pie is quite good. Remember that Midelt is in the middle of the apple-producing region of Morocco!
Not many options for a wild night out, but there are some hotel-bars, f.i. in the hotel Ayachi.