Almost every hotel in the area is already fully booked. There are no rooms at the Travelodge or Holiday inn. All the high class hotels are charging a premium and most of the small independents have been take by the race teams.
There are only three real possibilities left:
1. Thistle East Midlands Airport.
Right next to the circuit. 4* Pool, Sauna, Spa etc.
http://www.thistlehotels.com/thistle/ho ... Findex.jsp
There seems to be a mistake on the booking engine as you can book a Deluxe room for less than the price of a Standard for that weekend. £70 per room per night.
Earlier this week the price went up to £88 per night. Now it's back to 70 again

Parking is £5 extra.
2. Kegworth House Hotel.
Nice independent not too far from the circuit in Kegworth. Speak to Tony or Di. Mention the Club and they might give you a little discount.
http://www.kegworthhouse.co.uk/
From around £100 per room per night.
3. Donington Park Farmhouse. (Campsite)
http://www.parkfarmhouse.co.uk/