Imagine a bronzed Baptist goddess emerging from the pool at Louisville's Legacy Hotel, where a suite is just $199 a night during Kentucky Derby weekend.

Imagine a bronzed Baptist goddess emerging from the pool at The Southern Baptist Theological Seminary's Legacy Hotel, where a suite is just $199 a night during Kentucky Derby weekend.

Kentucky Derby 137 is May 5–8, 2011 at Churchill Downs. And while Louisville marks the event on its calendar as much for gouging opportunities as for hosting the world’s premier horse race, you can find accommodations for a reasonable price.

  • The Legacy Hotel: Located on the grounds of The Southern Baptist Theological Seminary—no joke!—suites are available for $199 a night on Derby weekend (normally they’re $99). There’s a caveat though: you’ve got to adhere to the seminary’s code of conduct (told you I wasn’t joking). So pack only your modest clothes, save your boozing for Churchill Downs  and “check e-mails regularly.”
  • Kentucky Derby Home Rentals: One enterprising Louisville homeowner created this website to list his own house for rent. After he rented it out, he retooled the site to list other people’s houses. At that point he also decided to refer to himself in the third person. That being said, a home rental is a great way to save money on your Derby weekend and enjoy more space and a better location. Many of Louisville’s best bars and restaurants, for example are in the Highlands, a neighborhood that doesn’t have many good hotels but does have some nice home rentals. VIP Rental Homes, Event Home Leasing and, of course, Craigslist also have rental home listings.

And if cost isn’t a concern—although it should be, money saved on lodging can be invested at the track—check out these posh Louisville hotels:

Photo: Courtesy The Legacy Hotel