There are a large number of hotels and bed and breakfasts close to Donington Park, Castle Donington and East Midlands Airport. A web search for accomodation and East Midlands Airport or Castle Donington will bring up a selection.
The links below take you to the local hotels and bed and breakfasts specifically mentioned on the Donington Park website
There are plenty of others to chose from.
For those prefering to stay in Derby and here are a few links to help find accomodation.