Bob has answered your other question.
As for the social activities, it's really up to the committee to decide what to suggest. There is almost always a group drive of some sort, and a day devoted to technical seminars (with an option for spouses/SO's to go touring or shopping during that time). Other activities may include museums, go-karting (indoor or outdoor), or any other local attractions. And meals together throughout the event.
The caliber of accommodations is generally quite nice for the social activities, typically in a hotel that's 3.5 or more stars on most travel sites, anything from a Hampton Inn up to an Omni. Room rates for our block are a function of the local market, and have ranged from $79/night (Columbus OH) to $149/night (Northern California). The accommodations near the track are sometimes not as nice, depending on what's in the area; we've used 2.5-star places like Comfort Inn and Best Western near the track where they're not used for the social activities. This would almost certainly be the case in Danville, which doesn't have any true luxury properties. Oh, and the same thing is generally true of the meals; the food is usually upscale and creative during the social activities, but sometimes more basic during the track days.
These aren't necessarily strict requirements, but that gives you an idea of how we've generally conducted our events in the past.
HTH