I've been hearing good things about London's new Hoxton Hotel, where you can get rooms for as low as £59 a night (US$112). It's a place that seems to combine the approach of a boutique hotel with the no-frills of a budget airline. And like low-cost airlines, the sooner you book, the better chance you have of getting a bargain rate.
I haven't stayed at the Hoxton Hotel myself, but there's a thorough report on the place in the travel section of the UK's Independent newspaper, which you can read by clicking here: http://travel.independent.co.uk/uk/article1914255.ece
The Hoxton Hotel's own website is at www.hoxtonhotels.com.
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