I live in Louisville, but only for just over a year now...You really can't go wrong as long as you stay towards the eastern part of the city...I would look at finding a hotel just off I-264 (the Watterson Expressway) because that is the easiest thoroughway to get to the track...as for the Exits, I would say that Taylorsville Rd. or Shelbyville Rd. would be 2 exits about 10 minutes away from the track that are easy/convenient to get around and are in a good part of town.

Blankenbaker is another street on the east side that hs a lot of good hotels on it but its furtehr away from the track...15-20 minutes..but, it will be on your way in if you're driving from North Carloina on I-64.....Hurstborne is also another up-and-coming part of town with a lot of great, newer hotels to stay in...

I'm assuming that you're looking for hotels like Holiday Inn, Radisson, etc. at around 75-150 bucks/night.....if you want higher class hotels, then there are some nice places in the middle of down town on 4th street that are nicer and will probably run you a couple of hundred bucks/night.

Hope this helps out...