London is not the city only of elaborate and boutique hotels. The city has several hotels that are reasonably priced. They are scattered at varied locations. The Internet will give you many alternatives that you can select from. Also, city guides will give you several lodging names. You can always book well in advance over the phone or the Internet. This will give you much discount on rates.
London has the option of bed and breakfast too. They are much more personal and cosier. It does not have the bustle of a large hotel. They are more comfortable to those who are wary of the environment of a commercial hotel. They are far cheaper too, making it ideal for long stays. Among these are the Barry House, The Beaver, The County Hotel, etc. The Breakfast that we are talking about will give you a taste of authentic English breakfast in its full glory. Many of them are run by families and so have a friendly atmosphere.
Hostels are the next best preference for those travelling on a budget. These are particularly popular with students and those on a longer holiday. There are several hostels in London, but the trick is in finding the one that is clean and comfortable enough. If you are a student, check with the ones who have been there before. You can contact student accommodation committees at colleges. They can give you a better idea of here they refer they overseas student for temporary stay.
Backpackers are the best people to get information from. If you happen to chance upon a group, try striking up a conversation with them and asking about their living places. Ask around the locals, at the market or small cafés, they may be able to give some invaluable insider information.
Do research. Hotels that are just opening also offer discounts. If you are a bit adventurous and can risk the quality, you can try this out. You might stumble upon a fine place.
You will also find families renting out rooms. Check for advertisements at cafés and local bulletins like libraries. Living with a local family has the advantage of being with locals. They know the neighbourhood and can suggest the places to visit and the best way to go about them.
You can also rent apartments. There are several buildings that offer furnished or partly furnished. If you are a considerable group travelling together, you can all pool and rent one of these. Collectively, they work out cheaper for each member. If you do not find hostels that are clean enough or if all of them are booked, you can opt for this.
Choosing these hotels is the best solution to save more money for leisure.