Well here is the link with a map... http://www.metro-region.org/article.cfm?articleid=149
If you go to mappoint.com, you can enter in the hotel address and then do a place, Blue Lake Regional Park, to give you an idea of distance.
10 minutes away is Troutdale, OR. There are some hotels around there. It is a truck stop area mainly, although they do have hotels and an outlet mall there.
15 minutes away, you can stay at the airport hotels. The hilton garden inn is nice there.
My opinion is the nicer hotels are at the airport. In fact, the official website for the event is promoting the Sheraton Portland Airport hotel for lodging. http://www.vanswakeboard.com/article.jsp?ID=9824