London hotel prices are currently insane - a combination of clawing back lost revenue from Covid and running costs increasing I suspect.
Several places I used to stay around the £250/300 mark are now regularly starting off at £400 for their standard shoe box rooms.
On principle alone I refuse to pay these inflated prices for very average rooms in very average hotels.
If you don't mind being a little further out, rather than slap bang central, try the Marriott Regents Park.
The building itself is a little tired, but the rooms are fine and for me they are of a decent enough size not to feel boxed in, plus no key card lifts and big/busy enough not to attract any attention.
I've paid £225/275 a night recently, which is around double what it could be booked at pre-Covid, but still less than most more central.