All London hotels are rip-off including Holiday Inn or Premier Inn but, if you look at hostels or shared accommodation you may find a reasonable bed for not too much £.
Hootananny in Brixton will do beds at around £14 per night:
http://www.hostels.com/hostels/london/hootananny-hostel/24068Hootananny Hostel, Brixton
95 Effra Road
London
SW2 1DF
Tel: 020 773 77273
But I believe these cheap beds would have to be booked very early in advance!?
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