Hilton Garden Inn is also situated on the lake and is just a hop skip and a jump from the Inn where all of the festivities will be held

http://hiltongardeninn3.hilton.com/en/hotels/texas/hilton-garden-inn-granbury-DFWGBGI/index.html

Granbury boasts more than 20 B&Bs so if that is more your style you will have plenty of options.

http://www.granbury-texas-b-and-b.com/