Hotel rates are high in London. Upscale hotels are concentrated in the areas of Mayfair, St. James and Bloomsbury, the east side of Hyde Park and north of Piccadilly. Another favored area is somewhat to the west, in the elegant districts of Knightsbridge and Kensington. Budget hotels are found in the areas around Victoria and Paddington Stations. Both of those areas are relatively safe.
Generally hotels offer reduced rates on weekends and sometimes for business travelers and convention bookings. Always ask if the rate quoted includes the 17.5% VAT.