What are you looking for? How much do you want to pay?
Give me a few details and I'll soon get you a list. Somewhere like the Jarvis in town (about £80/night), smaller hotels like the Cedars or De Montfort and a few simple B+B. Loughborough doesn't have anything all that special (I recently had someone ask for a 5 star with wireless internet access - he'll be lucky, even if he did once win a Nobel prize), but there is plenty to choose from. For the GCR you can also stay in Rothley or Quorn where there are stations on the line.

Thank you for your reply alanwall, Rothley or Quorn sound good as they both have a station.The trip is for my sister's and my husband,we have bought them a Drive a steam train ticket for their birthday.We do not mind where we stay (hotel or B&B ) as long as it is clean, we hope not to spend much time there but would like there to be a pub there or near by.We have also booked for the Sunday lunch on the train,we go once a year to Goathland for the steam trains and hope that Loughbough will be just as good
regards
Londongirl