Hi Nicole and welcome to ACE!
Cedar Point is an amazing park, and I'm thrilled that you are spending more than one day at the park as you'll need it if you want to experience everything. CP at night is amazing, you're in for a treat.
As far as hotels, I'm not much help there as I tend to drive home rather than pay for a hotel... I try to do everything as cheaply as possible. 😁
As for Fast Pass... You should make the investment if you can, at least for Saturday. The park should be packed and if you really want a shot at getting the best stuff in you'll need it. As for a plan of attack, I generally make the long walk to the back and get all that in first and work my way back up to the front, generally people will do the opposite so you may miss some of the crowd that way.
The gold pass does get you a discount for food I believe and you do have some good options in the park. My personal favorites are Back Beat BBQ by Magnum and Gemini and the Farm House which is located in the back of the park by Maverick and Cedar Creek Mine Ride.
Hope that helps,
Can't wait to hear about your first experience at the park!