Construction will take about a year, and the project could begin in the spring of 2006, Finamore said Tuesday.
The three-story hotel, which will have a stucco exterior, will be known as The Inn at Charles Town, according to plans.
Finamore said there is a lack of motel space in Jefferson County, a situation that is illustrated constantly at the track.
The first question patrons often ask track employees when they arrive is how to get to the facility's hotel, Finamore said.
When they learn no hotel is on the property, they often go home or stay in motels in Martinsburg, W.Va., or Winchester, Va., when local motels are filled, Finamore said.
"We've known for a long time there was a strong demand," Finamore said.
The next step in the track's hotel project is a review of the site plan by the planning commission staff. If the site plan is approved by the staff, it will be sent to the planning commission for consideration, planning commission officials said.
The hotel is one of two lodging facilities expected to be built in the area.
Holiday Inn plans to build a 144-room motel along Flowing Springs Road, a short distance east of the intersection with Fifth Avenue in Ranson, W.Va., Ranson City Manager David Mills recently said.
Holiday Inn has wanted to build the motel but has been delayed because of limited sewer capacity from the City of Charles Town, Mills said.
But since Charles Town is expected to expand its sewer plant, work should be able to begin soon on the motel, Mills said.
It will take about six to nine months to build the motel, Mills said.