When Steve and I went to London the spring before last, I got us a tolerably cheap rate at the Park International. $150/night I think?--which isn't exactly cheap by my standards, but as London hotels go it's pretty damn reasonable. The room was not palatially sized but it was more than adequate to our needs (we were there most of a week), and the location is very convenient: it's some 5-7 minutes from the Gloucester Road tube stop, directly above which there is a mini-mall with a grocery store, a drugstore chemist, ATMs, and a few other useful whatsits.

Rate also includes free continental breakfast, which is an improvement over the basket of tasteless fruit & tray of stale danishes one gets in the anonymous business-traveller hotel chain here. Includes cold cuts and cheeses, for one thing.