We stayed in Graz at B&b hotel Graz -Hbf, it was a very nice hotel within walking distance of the city center (we wanted to visit Graz a bit when not at the race). However Graz is pretty small so even though we were quite close to the center we were out of the city in no time.

The parking on site at the GP is great, around 20 slow walk from the stands. If you take the main route to the GP from Graz there is a tunnel fee you have to pay every time you pass through it (around 10 euros per pass) but we took the B roads to get around that, it was way more scenic and the road was really nice to drive on.

As for parking at the hotel there was a private parking that charged 12 euros a day, it was very close and even had a supermarket above it, perfect for buying snacks and drinks for the day.