Where to stay for a race at the 'Ring

I’m going to be going to the F1 race at the Nurburgring this summer and am looking for accommodations. I am going to be hosteling around, so my plan had been to stay in Cologne and take the train to Nurburg, but looking at the Deutsche Bahn website, that seems a little convoluted. Are there any reasonably cheap (say, <50 Euro) hotels in Nurburg? Any other suggestions?

Ben Lovejoy’s 'Ring Site

Look under “Where to Stay”. I myself am planning to go there next year-to drive on
the old track (Nordschleife) myself!

I went a few years ago and stayed at the Blaue Ecke in Adenau. My room (they’re named after sections of the track) was small, but nice. That was in November, though; I’ve no idea how hard it would be to book a room during the Grand Prix.

I had dinner at the Pistenklaus in Nürburg and it was quite nice. For an historical connection, it’s owned (or at least was) by the family of the Ring Taxi driver, Sabine Schmitz.