If you want the downtown Madison experience, this is our hotel pick. This hotel is steps away from the restaurants, bars, and shops of Madison's famous State Street. Also, you'll have the Farmer's Market right at your doorstep on Saturday morning. If we didn't live here, this is our pick for where we would stay.
This is a great hotel that's right by the beltline, so you already have a head start to the venue (which is a 35 minute drive from the Sheraton).
If you're looking for a budget option (and something closer to the venue), we recommend the Quality Inn in Edgerton.