You are in for a good time! Have you been before?
There are not many hotels in the centre of Bridgwater but think there is a Travel Lodge, Premier Inn etc on outskirts.
Several B & B's but think you will have to research them.
The Carnival is in North Petheron on the Saturday and the Walnut Tree is a nice hotel and is along the route of the Carnival.
I hope you find what you want and if I can help, please ask.

Hello again, you helped me in Costa Del Sol forum!

Yes, I've been to the carnival many times before (I am from Weston Super Mare originally) but now live in Gloucestershire and want to go to Bridgwater carnival as I also want to see the Squibbing after the carnival.

North Petheron on the 7th November is a second option, as Saturday night may be easier than Bridgwater on the Friday night. I can't go to Weston Super Mare carnival, due to work. It'd be nice to stay somewhere in the Bridgwater area, to save driving back home late after the squibbing.

Thanks for your help, I'll take a look at the Travel Lodge, Premier Inn, and the Walnut Tree in North Petheron.

Kay.