Hey there!

Don't know what exactly you're looking for, but during our London trip we stayed in the Apex City of London Hotel (http://www.apexhotels.co.uk/de/hotels/london/apex-city-of-london-hotel/). It's located right near the Tower of London and has good public transport connection. The hotel was very comfortable; and I'd visit/ recommend it anytime again.

Enjoy.

Chris

Travelodge (chain) is one of the cheapest options, several locations. 

I have travelled to London on many occassions and found hotels to be consistently overpriced and disappointing in just about every respect.

I finally settled for using Ibis hotels at the lower range or Holiday Inns at the next step up, because at least I knew what I was getting. More recently, I found that there are some decent new hotels in the Isle of dogs.

what's your budget?

We'd need a triple room and I thought spending about 150 euros per night, breakfast included. Must be central as we'd like to go back to the hotel at some point during the day and I do not want to spend too much time in transport.

Concerning location: You'll find lots of hotels around the and main underground and train stations; especially the Paddington has lots of relatively low-budget places. Earl's Court is another area with lots of hotels, though possibly a bit more expensive.

London has excellent public transportation so don't worry too much about location. Anywhere within the circle line ('yellow' underground line) is decent. It's obviously better to be close to the tube station, and to be close to station with multiple lines crossing. 

Concerning budget: my guess is that 150 Euros may not be enough, at least if you want some level of comfort. It may work if you accept to be a bit further from the centre. 

Finally: If you're staying for more than a few nights (e.g. 4 or more), consider booking an apartment instead of a hotel. You'll probably be further away from the centre but you can save a lot of money (on both accomodation and food).

http://vandonhousehotel.com/dl/Vandon_House_Hotel_brochure.pdf

http://www.tripadvisor.com/Hotel_Review-g186338-d209154-Reviews-Vandon_House_Hotel-London_England.html

for your budget would recommend this hotel

try checking the easyjet hotel booker... they have loads of options, and you can search by location and price, 150€ is 50 per head and might not cut it in central London.

Thanks all.

Well I'm just back from Bulgaria where we had a very nice 4-star hotel in downtown Sofia for 90 euros per night for 3 people... so I guess I have to adjust to prices as we know them here. Seems London hotel prices match Geneva hotel prices. 

So we'll either indulge in some London luxury, or try some CouchSurfing there... we had a very nice CS experience this summer in Vienna.

Imperial Hotel, Russel Square is extremely central and good value for money. You can walk everwhere around or just hop on a bus...don't forget  to  buy an oyster card, it allows endless travelling on buses and train after a certain cap is reaced on the card

Hi Mimi - going back to your original question as some of the suggestions above (whilst being very helpful) don't necessarily cover what you're looking for.

You mention a budget of EUR150 a night (BTW, London works in GBP, not EUR) which means you're on a tight budget.

You mention that you might couch surf - so you don't really mind slumming it a bit.

You mention that there's 3 of you so you don't mind sharing.

So I take it you're young, on a budget, sharing with friends - central to transport, nightlife and shops is crucial and you're not too fussed about the quality, as long as its clean and safe. Correct?

I recently stayed at the Leisure Inn Hotel in Leinster Gardens (Bayswater).  Its 5 minutes walk to both Bayswater and Queensgate tubes (10 mins to the West End) - also on the main bus route to Oxford Street (including night buses), it's manned 24 hours, it's clean (if a little shabby) and they have triple rooms.

Which, in London, unless you're in a hostel, is quite unusual.  It's also off the main road and was surprisingly quiet.

Looking at the first weekend of October they have a triple room for £109 per night - which easily fits into your budget. (www.booking.com)

It's a 2 star hotel - basically slighter better than a hostel but with better facilities, it's in a great area, buzzy restaurants, bars and shops open 24/7 and great transport links. 

There were no "undesirables" either in the hotel, or hanging around the hotel, which is often the case at the lower end of the hotel market and a very nice Polish girl (surprise!) manning Reception.

If you book it, then ask for a room above the ground floor room as the window fittings didn't look that secure!

If you want to go a bit more upmarket, then Travelodge (as someone mentioned or Premier Inn (both well recognised chains) have some very attractive rates and they're a very reputable group.  They just don't have a lot in Central London.

Location wise - Edward (?) mentioned staying within the Circle Line - I would narrow it down to staying within the Circle Line but West of the Northern Line.  Anywhere else is pants, unless you go south of the river to Fulham or Putney.

Sorry - very long post, but lived in London for 25 years and seen the best and the worst of it and don't want to see you get ripped off in my (ex) home town!

Good luck and enjoy the nightlife and shopping!

http://www.booking.com/hotel/gb/leisureinn.en-gb.html?aid=340631;label=london%2Fbayswater-eLDN04ilwkbtzTvLb7sCHQS32081025345%3Apl%3Ata%3Ap1%3Ap2%3Aac%3Aap1t1%3Aneg;sid=268c4588a482b4e620d68c9ced9c7dc5;dcid=1;checkin=2013-10-04;checkout=2013-10-06;group_adults=3;group_children=0;srfid=2f17970ab9d019864b6ded7608ceebbc35d6025cX1

"Grand Royale London "  4 Star Hotel

1 Inverness Terrace Bayswater London W2 3JP England

Grand Royale London offers stunning four star hotel accommodation in a prime location right by Hyde Park. This luxury hotel has a smart restaurant where continental and full English breakfast are served, as well as a beautiful bar ideal for a drink or snack. State-of-the-art meeting rooms are available for business or special occasions, and the concierge team can help make the most of your stay. Notting Hill’s chic restaurants are nearby, as is the Heathrow Express from Paddington Station.

Hostel the Clink brilliant! Cheap as chips and full of tourists from all over the world.. In Kingscross area really really good! if you like hostels.. For the amount of time you are going to be asleep why pay hotel rates? 

I always use hotwire to find my hotels.  You get to choose the area and the number of stars you want and it is usually about 40% cheaper. This works for most big cities

Jonathan

Best Western Shaftesbury Paddington Court

Or Easyhotels: 45 GBP for 2 sqm

How about Youth Hostels? They have much better facilities now, including lockable family rooms and very reasonable meals + also a kitchen when you could do your own breakfast and packed lunches and go out in the evening. There are quite a few in London - we normally use the one opposite St Pancras station, which is very modern.

Google YHA Youth Hostels London

And all for 150 per room for 3 people- are you sure? Sounds like an advert to me and aimed at thewrong audience 

I started using AirBnB a few years back and find I am using it more and more when traveling, even for business. It's brilliant! Mostly great locations smack downtown, excellent standards, friendly hosts ( you will mostl likely get invited for drinks and/or a home-cooked  dinner at least the first night), s-u-p-e-r-priceworthy, especially in high end places like i.a. London, New York and Paris. And so much nicer than staying in impersonal hotels, especially if you travel a lot. 

www.airbnb.com

No it's not at all an advertisment. I actually visit different blogs and websites for my work and bookmark important locations, packages etc. So i have found this from my list for you. You can seach out the hotel or other hotels if are not comfortable with this offer. I have just done it for courtesy.