The Sheraton: 2101 Richard Arrington Blvd North.
10 blocks or so from the party, but I'm sure it's not too cheap. Swank ass shit.
Hyatt Place: 2024 4th Ave South
About 4 blocks from the party. Once again, not super cheap, but super close.
Medical Center Inn: 800 11th Street South
This is probably your best bet if you want to stay inner city. Still close to the party and pretty affordable.
There are also some critter ass sketch motels close by, but that's some stay at your own risk type shit. There are also the usual hotel chains once you get into the suburbs a little bit. The zip code is 35205 if you wanted to search surrounding areas. Also, for those of you wanting to camp. There is a state park 20 miles south of where the party will be held. It's actually very close to where the bike show will be happening at, but it's quite a distance if you plan on getting boozed up at the party.