The Sheraton is the only one in walking distance. It's nice and in a great location. Mall, restaurants, and bars in walking distance as well.
Parking is free, but you'll need to get a pass online. Google for hotels, there aren't any bad ones around.
Merriweather has a handy new parking system setup where you should receive a link to register a specific parking spot at one of the lots surrounding the venue once you've purchased the tickets. It may depend on which service you purchased the tickets through, but it appears ticketfly is the primary one, so there should be something in the confirmation email about parking. If you don't have the link, i would call customer service.
The Sheraton is close by and sits on the lake. There is free parking. Not sure about any bus details.
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