With the price of airfares to Europe soaring, its nice to know its possible to get deals on the ground. But you're going to have to move fast! Tomorrow, Travelodge's 12 GPB summer sale starts, and as I know from personal experience, the rooms at that price move fast.
So on to the negatives: while I've been uniformly pleased with the Travelodge's I've stayed in outside of London, some of the ones in the capital are, well, a bit worn. Just five months ago, we stayed at one not far from the British Library which had a massive hole in the wall of our bedroom (angry guest?) and a shower to dingy looking to take one's shoes off in. That being said, the room itself was clean, if tiny. And later in that visited, we stayed at another Travelodge (this time near The Imperial War Museum) that was absolutely fine. In fact, it was quite spiffy with a great staff. Read the reviews before booking.
One final word: this chain is not related to the Travelodges in the USA. To get to its site (which I'd recommend you do beginning at midnight Greenwich Mean Time, to get the largest selection), click here.