This one is quite nice, had a weekend there about 6 months ago. Near B'ham airport. But 4 star prices in bar. Is next to M42 and the next junction (2 miles max) leads onto M6. Then one junction down (10-15 mins) and you are at the arena.
It depends what exhibition is on at the NEC as to what the prices are in hotels for about 30 miles around. Some nice hotels in Kenilworth, sorry don't know names.
http://www.ardenhotel.co.uk/