Well, it seems everyone's doing a bit of downsizing these days,
whether it's trimming back the British budget or reducing your meeting to tweeting.
Well, now there's even a way of doing the Big Apple in miniature if you don't mind small spaces.
They're called micro hotels and they give a whole new meaning to the word "mini-break" as our Maggie Lake discovered.
At The Jane Hotel in New York, Gillian Jarvis is checking in.
An art director from Toronto, Gillian is in the city on business for four days.
The corridors here can be described as snug, but the hotel's trademark is its rooms.
At 50 square feet, there's enough room to stand and sleep, but not much else.
What do you think?
I love it so far.
Are you... now, you knew the rooms were going to be small, right?
Are you shocked about how actually small they are?
No, I'm really comfortable with it, because I want to spend most of my time outside of the hotel.
So, it's cozy and I'm traveling by myself, so it's a perfect size.
What you sacrifice in space, here you get in style.
Richard Born built a multi-billion dollar empire developing chic luxury hotels,
but he says the best opportunities now are at the other end of the spectrum.
When we came to The Jane we found 200 tiny rooms.
And we had the option of taking the 200 tiny rooms and chopping them up and making 50 regular hotel rooms or going with it.
And we just did a little math on the back of a napkin and the economics were really to keep the rooms small.
My generation, we were attracted to youth hostels during that time.
This generation, this is the 21st-century version of a youth hostel stepped way up.
On the doorstep of the trendy Meatpacking District, the appeal lies in its cheap chic.
There's a guest list to get into the bar.
Rooms cost around 100 dollars, but come with flat screen TVs, iPod ports, gown and slippers.
Would you fit the demographic? Here's a very New York definition.
Somebody who would live elsewhere but the equivalent of the East Village,
is more of a hipster, is not necessarily an upscale downtown cool person.
One word of warning...
This would be the shared bathroom. Here you go.
OK, male and female unisex bathroom, OK?
Developers say the key is managing expectations of first time guests to ensure word of mouth beyond clever marketing.
For now, the phones keep ringing.