Ooops, they're not showing rooms available on Sat the 16th, online, though you might call them direct .
Shorebreak HOtel in Huntington Beach is showing a $149 opening special, brand new but the chain that owns it has a very good reputation. (choose "149 special" from the dropdown rate menu)

The fabulous Fairmont near Newport Beach is $111 per night on weekend special, but parking is another $28 here.

The Best Western Capistrano would do fine for one night.

IMO, Capistrano is getting a little too far south if you plan to head up north the next day. I also think Laguna Beach might be too far south.

If you arrive in Long Beach mid-day, pick up the rental car, drive to your hotel - how much time do you have to do anything worthwhile till your friends arrive for dinner? Then you leave bright & early the next day.

Stu Dudley

Thanks for all of the advice. We have already decided to scale back on what we are trying to see--going for quality time over quantity of ground covered. Can you all weigh in on the wild fires I've been hearing about? I wasn't sure how or if it might affect our route.

If you're going up the 101, you'll have to watch the news every morning or check the Caltrans road closure reports. It's fire season everywhere, not just Santa Barbara...but SB is particularly bad because there are few if any detour routes around it. The number for current road conditions is 1-800.427.7623
Even though freeway 101 through SB isn't closed currently, reports are that smoke is heavy and very hard on the respiratory system in the area. You'll definitely need to keep yourselves updated on a daily basis.