How an INdian national can visit Macau

I am of Indian nationality. I planned to visit Hangzhou of china in last week of July 2012. On return , I plan to visit Hongkong and Macau. I will have two days for Hongkong & Macau. I planned to arrive in hongkong fron Hangzhou in morning then same day want to proceed to Macau by ferry and want to stay one night in Macau and then want to come to hongkong and stay for a night in hongkong. I am little familiar with hongkong as I visited Hongkong last year.
Can you suggest cheap hotel/B&B in Macau as I never been to Macau. What are formalities to be completed at entry point of Macau.