Economy hotels finally worm their way into the Big Apple

The Big Apple’s experiencing a cheap hotel boom – cheap, that is, for New York.

Tourists will soon find a host of new, more affordable alternatives to four-star Marriott, Hilton, Hyatt and Sheraton hotels in the USA’s most expensive hotel city, where the average room costs about $300 a night…

These hotels are part of Manhattan’s mid-priced hotel building boom, which has been taking off as the recession fades, hotel rates climb and developers find it easier to get construction financing.