People will really need a number to give you suggestions - "affordable" means different things to different people. What is the amount you hope to spend in pounds? In the meantime, there are many, many threads here on London hotels - looking through them should give you some suggestions to get started. The search box is up at the top of the page.

Four words: What is your budget?

Until you answer that, your question is meaningless. And there are hundreds of thousands of resources on London hotels on the web, use those.

Explain to me what a "great" hotel is.

The most luxurious in town

A modest one at a budget price

A certain type (new, old, trendy, trditional)

What are you expecintg (private bath? elevator vs stairs, AC, free wi-fi, breakfast???)

Besides a budget your expectations would be a help.

Would like to spend about $140 pounds, newer hotel, center of London

Does 140 pounds include the nasty 20% tax?

Anyways I spent alot of time looking for a hotel near that price point, I don't think any that I found are new, are there new hotles in the center of a city hundreds of years old???

Anyways I found the Amsterdam Hotel, Park City Hotel and Sanctuary Hotel as possilbe choices.

I look forward to other responses you get - I'm not sure any of the above are "the one" - most have double beds (or twins) and we are used to at least a queen sized bed.

Would you be comfortable in using Priceline? Last year we used it for a 3 days stay and got the 5 star Intercontinental by Hyde Park for about $150 per night. We loved it and great price for what we got. I think the rack rate is over $300.

B and B Belgravia (that's the name) is 99 GBP for a single includes breakfast, WIFI, and super location.

In addition to the other suggestions, check Londontown.com (click on Hotels). A couple of years ago I got the Holiday Inn Bloomsbury near Russell Square for about £90 using that site. It's very close to the Russell Square tube station and in walking distance to the British Museum, and seemed new (or recently renovated, more likely) to me at that point. But how many people do you have? European hotel rooms typically are not quads as we're used to in the US (assuming you are from the US).