Attendees at OCP events looking for lodging are strongly urged to consider the charms of two bed and breakfast-type places: the Joshua Wilton House and Stonewall Jackson Inn. They've both been very good to us in the past, they offer exceptional accomodations, and they really give a taste of things in the valley. Another nice place to stay that's not too expensive is the Village Inn at 4979 S. Valley Pike. Call them on 540/434-7355 (their website seems to have information only on their food services).
Otherwise, the area sports a number of major chain hotels, such as:
A quick Google search will yield more options.

Buy the OCP Christmas CD!