London has hundreds of options for accommodation to suit all budgets from hostels through historic bed and breakfasts (B&Bs), mainstream chain hotels and apartments all the way to some of the most exclusive luxury hotels in the world such as The Savoy, The Ritz and Claridges where a stay in a top suite will cost upwards of £1,000 per night. The average cost of hotel accommodation in London is higher than in any other major British city. Prices invariably become inflated close to major sporting tournaments (such as the London Marathon, Wimbledon or major England football/rugby fixtures), or other important events taking place in the city - so it pays to plan your trip around such occasions or book your accommodation well in advance.
In general, most people tend to stay within "Zone 1" of the underground, however do your research carefully - sometimes being that extra five minutes away from a station can make the difference in cost and quality of local food and drinking options. In any case, you can always catch a bus anyway - by far the best way to see the city and get about generally.
Your budget will have a lot to do with what part of London you will want to stay in. Tourist-standard prices range from £20-200 per person per night. Expect smaller than average rooms especially at the low end of this range. As a general rule, expect to pay between £75-150 per night for a 2 or 3 star hotel in the central area of the city. Many of the big name chain hotels now offer substantial discounts (with rates often down as low as £30-£50 per room per night) if you book well in advance, but the drawback is that you have to pay the full amount upfront at the time of booking and there are no refunds if you cancel. The heart of the West End is the most expensive place to stay and most hotels are either 4 or 5 star and most will command a hefty price premium.
The City can also be very expensive during the week, as it relies heavily on the business market but prices often drop over the weekend and it can be a good way of getting into a higher standard of accommodation than you could otherwise afford. Bear in mind though that this part of central London becomes a ghost town over the weekend, and you will find that few (if any) bars and restaurants will be open.
A top tip however is to always check the likes of LondonTown.com, Expedia and LateRooms as well as the hotel's own website - since there are often deals to be had which can reduce the costs significantly.
The extra cost of getting around is probably not significant compared to savings made by staying in a hotel further out. With the excellent Tube system where you stay won't limit what you see. Always be sure though to check where the closest Tube station is to your hotel. Staying further out will be cheaper but when travelling in allow 1-2 min per Tube stop (near the centre), around 2-3 min per stop (further out) and 5-10 min per line changes. This can easily total up to a 1 hour journey if there is a walk at each end.
A more imaginative alternative could be to stay in a nearby town with quick and easy train travel to London. For example, lively Brighton (otherwise known as 'London by Sea') is only an hour away, but your budget will go much further and there are excellent accommodation options.
Some of the better value options are to be found in the following central districts:
A slightly left-field option is to check the Landmark Trust, a building preservation charity who purchase notable old buildings in the UK, renovate and run them as holiday lettings. An interesting approach to saving old buildings for sure.
Not necessarily as unpleasant as you may think, and as long as you don't mind sharing with others, they are the most cost-effective option and also offer breakfast as well as kitchens for self-catering.
There are a number of independent hostels throughout the city which are listed in the relevant district articles.
In the summer season, many of the colleges and universities in Central London open up their student halls of residence as hotels during vacations, at usually much lower rates than proper hotels, but expect very basic facilities (e.g. communal bathrooms, no catering facilities), but you will get the personal privacy that you don't get in hostels for not very much more cost.
Some apartment-hotels offer good value accommodation for those travelling in a group - often better quality than many hotels but at a cheaper individual rate per person.
Capsule-style crash spaces are just arriving, but currently these are only in central locations.
Short-term apartment or flat rentals are an attractive option for many travellers to London, and there are innumerable agencies offering them, almost all of them nowadays through the internet. A key consideration for renting a short term flat is if you are visiting in a large group or a family. In such cases a short stay in London can be more affordable compared to staying in a hotel. Your best protection is to deal only with London apartment rental agencies which have been recommended by independent sources you feel you can trust, and to deal only with those that accept confirmations via credit card.
Travellers can choose from a variety of homestay styles such as homeswapping (lovehomeswap.com), living in a temporarily vacated room (anyfriendofours.com) or the high end version where companies specialize in homestays with full hotel services such as housekeeping and concierge (viveunique.com). Most of the time these options are safe but it is important that guests and homeowners take equal precaution to ensure their valuables are safe guarded. Homeowners should always provide guests with terms and conditions of their live-in house rules to ensure there are no mishaps and both parties are at ease. This new trend allows guests to enjoy a less touristy version of London as most of these homes will be in residential areas which each have their own unique charm and experiences.
Hotels are generally expensive in London comparing with other European cities, as a result the city has a vast number of self-catering accommodation on offer, many of them are apartments in various central areas of the capital. Well established local sites include Holidaylettings.co.uk, Owners Direct and Alpha Holiday Lettings. If you are looking to stay in just a room or part of the property, Airbnb matches holiday makers with hosts who only rent out part of their homes.
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