Hotwire is great -- BUT you need to really do your homework. Carefully look at the geographic zones. Often in the property's description there are enough clues that one can figure out exactly which hotel it is.

I have now booked a 4* hotel through Hotwire, and got a place called Park Plaza Sherlock Holmes in Baker Street. Good reviews from TA and (importantly) within my budget. No reference on their web site to Russell Square, but seemingly there is a tube station nearby. I just hope it will be OK. Thanks so much for all your input and advice - it really makes me feel better to have such knowledgable support!
Have also now booked flight tickets - BA - £860 for two persons return.
Two more questions: (1) from the websites it seems as if the 1-week travel card is a good deal. We will be there for 8 days. Is this the best way to pay for transport? (2) I would love to go to the theatre while we are there. My daughter is rooting for Lion King. Is it a good idea / is it possible to buy tickets from tkts or to try to get last minute tickets at the theatre?

You are going to be 25-30 minutes by bus or Tube to Russell Square, but as flanneruk wisely points out, that may or may not be anywhere near where your conference is. On the other hand, you have gotten a well reviewed hotel at an affordable price, and it is in fact near enough to a number of interesting places.

I know you haven't been to London before, but you need to slow down a bit or you are going to wear yourself out before you get there. You would have gotten much better advice here if you had posted the actual address where the conference is taking place, but you were in a hurry.

How are you going to get to the hotel from the airport? Well, in this part of London, there are many choices, some of them quite bad and/or expensive. If you want people to help you with things like this, you need to be quite specific: " my plane arrives at LGW 0755; what is the best way to get to ... for a man in his fifties with a heart condition coming from Singapore?" Or whatever.

If you have been invited to give a paper, you are naturally going to be anxious, but you need to pace yourself, now and when you are there. As one who has given innumerable conference presentations, I have watched people crash and burn by day two because they try to do it all, including the extensive social opportunities usual at such events.

You will get a better idea of what Flanner and Patrick are talking about if you go to the University of London website http://www.lon.ac.uk
It is not a campus university. It has 19 colleges and 10 institutes. It would help your query if you could point out which institution is hosting your conference

Oh, I see that you have already booked

"You are going to be 25-30 minutes by bus or Tube to Russell Square"

Nearer 15-20 mins by tube with 1 change at Piccadilly Circus onto the Piccadilly Line but getting out of Russell Square can take time because it's basically lift only access unless you fancy 300 steps.

Ok I definitely need to be more specific. The website says: Our conference will be held on univeristy premises in Malet Street, midway between Goodge street Tube Station and Russell Street Tube Station. The conference itself is 2-5 November.
I decided to go with Hotwire, because quite a few hotels and apartments that I have tried could not accommodate us during the time we will be there. The conference is four days long, the rest of the time I would like to experience something of London. I have no desire to 'see it all', I rather prefer slow travel, but would still like to explore a few interesting places.
Achislander - this conference came rather unexpectedly - I am already flying out to London 31 October. This is not the way it should happen, I know, but it is a long story ... Yes, you guessed correctly, I am to present a paper. This is not my biggest concern, I have done it before. I just freaked out because everything has to be organised at (almost) the last minute. Thanks for the reminder to pace myself!
OK so now for getting from airport to hotel. Our plane from Dubai lands at Heathrow just after 6 in the morning. I tend to sleep well on a plane, and the time difference is only 2 hours, so we should not be too tired. We travel light, and each of us (my daughter and I) will have a 20' /50cm case. I have contacted the hotel and asked about early check-in - they seem to be OK with it. What would be the best way to get from Heathrow to Baker Street?

Mistake - the time difference between Dubai and London is 3 hours.

You need to look at the tfl website - tfl.gov.uk. You can get all of the relevant maps and journey plans there. The options - tube to Piccadilly Circus on the Piccadilly line then change to the Bakerloo Line northbound to Baker Street. Rail into Paddington (either the stopping train or the fast but expensive HEX) followed by the tube (Bakerloo Line to Baker Street). Or a cab or private hire - take around an hour.

That sounds great, kovsie! Your hotel is near Regent's Park, which is worth a stroll, and is walkable to your conference if you were so inclined. Per maps.google.com it would take 29 min on foot through some cool neighborhoods and keep you aboveground. The Metropolitan Line underground to Euston looks faster.

Your hotel is also near lots of good bus routes for seeing the town. I know you will both have a great time, and I wish I could be there to hear your presentation.

We've had great luck with Hotwire in large cities, again heeding the reviews. In smaller towns it's not so good.

I don't know about Lion King tickets availability at the tkts booths, but we've done well showing up at the box office and getting discount seats for other plays.

We like to take the bus a lot in London, as long as not pressed for time or rush periods. I know there are searchable recent threads on week travelcard vs Oyster. We've done both. Last time using Oysters for 10 days I seemed to be topping it up frequently though I didn't keep track of the cost difference.

The hotel is VERY close to the Baker Street tube station so transport around London is no problem.

But re getting to your hotel from the airport -- it will be a schlepp by tube. I'd pre-book a car service like justairports.com. It will cost more than the Tube but is door-to-door and MUCH cheaper than a taxi.

Thanks so much Stokebailey - its you who made me aware of Hotwire. I am satisfied with the hotel, it looks nice and fancy, and they say they are 3 minutes from the nearest Tube Station. Yes, I will spend time on buses and the tube, but that's OK. I had visions of changing hotels 2 or even 3 times because I struggled to get a place for the 8 nights I will be there.
Havana - thanks for the reference to the tfl-site. I will certainly use it.
Janis - I will book the car service for arriving in London - thanks for that too!
And now I am officially excited ... this 'pinch me I'm going to London' feeling!!
Next decisions: what to pack, what to wear. It seems cold (between 5-11C) and wet (rain for 22 days of the month).

Sounds like everything is falling into place and that you are no longer hyperventilating

II will second this as bing a great area for bus routes.

Hyperventilation down to manageable levels, thx Ackislander!!

If your daughter felt like going to Oxford for a day while you were busy, there are ~ 3 motorcoaches/ hour that stop just across Marylebone Rd at Baker St. before heading out of town. Comfortable ride through pleasant country, and a beautiful university town.

x90.oxfordbus.co.uk/timetables-fares/

sorry correction: x90 bus stops south of Marylebone Rd I believe, when heading out of town.

O yes, this is a good idea. I am embarrassed to say there is no scholarly pursuit behind her desire to go to Oxford ... it is all about Harry Potter!