If you want to have a more local experience, consider staying in up-and-coming East London. The Ace Hotel opened its London outpost in the trendy Shoreditch neighborhood (the equivalent of Williamsburg in Brooklyn), while the new Hotel RE is a good bargain in the Bethnal Green area. Not only are the lodgings less expensive, but so are the restaurants and shops.
Secret garden in Spitalfields, East End of London. Restored by Luis Buitrago. Photo by TheGentleAuthor @ Spitalfields Life [Please keep photo credit and original link if reusing or re-pinning. Thanks!]