Eli,
of the "closest" hotels, that is the cheapest deal I could get....if you don't mind driving 10-15 minutes to get to the track I do believe there are some cheaper hotels in Burlington (Ontario) if you want to google it, I think it might be something like a---------"super 8" or something 8.....you might have stayed there before if you went to the 1/8th onroad track in hamilton?