I stay at the Sleep Inn on Plaudit Pl (about 10 min from KHP) for Rolex every year. It's a little bit more (maybe $90-120 a night depending) but they are dog friendly yet still CLEAN and close to food and gas, etc.
"Lord if we should fall, my horse and I, please pick my horse up first."
I got my room at the Best Western fo $80 a night but I did have to pay for it right away without being able to cancel. That was about 2 -3 mths ago. There is some big event at VMI that weekend hence all the rooms booked.
Best Western is servicable and between the show and such Im not relaly there enough to care but it is the closest. The Wyndam is really nice, typically where I stay when not pricey, but I also bring dogs so I have to find pup friendly locations.
Best of luck. Ive stayed in the area a lot so if you have any questions please PM me.
I went to W&L so I (or my parents) have stayed at most of the hotels in Lexington....
IMHO in order of quality:
House Mountain Inn > Hampton Inn - Historic Lexington > Sleep Inn
The rest are all pretty similar, with perhaps the Holiday Inn Express on 11 being a little nicer. I'd imagine that the Wingate would also be nice.
I stayed at the Best Western Hunt Ridge a month ago and was pretty disappointed. I remembered it being pretty nice when I stayed there 2-3 years ago, but was seriously, seriously concerned about bed bugs last month (but am pleased to report that I didn't experience any!). It probably doesn't help that they now allow dogs in all of their rooms. It is REALLY close to the Horse Center though, and is a popular choice with the horse show crowd.
There also used to be a Country Inn and Suites on 11, across from Applebees. Is that still there? I've stayed there -- it was pretty nice.
I think that the Economy Inn (if that is the hotel right on the on-ramp for I-64) was under construction my entire senior year for major renovations... and so might be pretty nice now!
The Days Inn is in Raphine, which is a bit of a hike up 81...and right on the interstate (and near a major truck stop). I foal sat at an equine clinic out that way and was a little sketched out by all the trucks parked nearby overnight, FYI.
We usually stay at the Sleep Inn but you have to book your rooms in advance because they go quickly.
Stayed at the BW Hunt Ridge about 5 years ago - it was ok but haven't been back since. We also stayed at the Holiday Inn on Rt 11 north of Lexington one year when everything else was booked and they were running a special, but again, ok and haven't been back.
If VMI has an even you will probably end up outside of town if you haven't booked a room yet - good luck!