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hotel/condo in Louisville, Kentucky during Kentucky Derby

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Help!! My siblings and I have bought my 80 years old parents tickets for the Kentucky Derby - May 2012. It is a lifelong dream of my Dad to see it. However, now I am realizing that lodging is sky-high. Makes me mad that they charge so much. Does anyone have any advice to find a reasonable place for two healthy older adults to stay for 4 days that won't cost $2,000 plus?

Thanks.

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