Holy shit, the Hilton Monona Terrace? That's the best hotel in Madison - you either get a view of the capitol at night, or a view of the lake. Either is great! You have to pay for parking if you use the garage; it's not a ridiculous amount but you can park safely on the street for free (if you can find space).
Yea, that's the one. Hotwire FTW. They charge $13 to park and won't let more than 1 bike fill a spot. We'll be seeking out street parking.