Here are a list of Hotel available in the Federal Way area near the starting line. This is obviously just a list of local hotels within 5 miles of the start line, and there are others in the area. This just an idea. I myself (and possibly Oldscool) will be staying at the Best Western.
A. Clarion Hotel
31611 20th Avenue South
(253) 941-6000
http://www.clarionhotel.com/hotel-federal_way-washington-WA214B. Comfort Inn
31622 Pacific Hwy South
(253) 529-0101
http://www.comfortinn.com/hotel-federal_way-washington-WA114?promo=gglocalC. Best Western Evergreen Inn and Suites
32124 25th Avenue South
(253) 529-4000
http://book.bestwestern.com/bestwestern/productInfo.do?propertyCode=48171D. Courtyard Marriott
31910 Gateway Center Blvd South
(253) 529-0200
https://www.marriott.com/hotels/travel/seafw-courtyard-seattle-federal-way/and of course here is a map of the area...

Be aware, all the addresses above are all in Federal Way, WA 98003 (for those who wish to program their GPS's or sompin)
prices range from $85 for a standard room on up...
I can personally vouch for the Best Western as we stayed there last year. the rooms were excellent, and for the same price as the marriott, you get a full buffet breakfast (french toast, waffles, eggs, sausage, cereal, pancakes, you name it) so for me that is totally worth it. Plus we got a two bedroom suite for the same price as a regular room at Courtyard, and it is literally across the street from the starting area.
However, a lot of people do like to stay at the Marriott because they don't have to move their cars anywhere at the start, they are already there, and it gets going minda early in the morning...
So at least this gives you some choices. and of course there ARE other hotels in the area, with a bit of a drive.
https://www.marriott.com/hotels/travel/seafw-courtyard-seattle-federal-way/