If you're looking for a hotel-like experience at a fraction of the cost, definitely check out Sonder's new Edgware Road Hotel. From what I can tell, this was another hotel that was very recently renovated.
What you get is a new, stylish, clean room, conveniently located between Paddington and Marylebone and just around the corner from the Edgware Road tube station(s).
Part of the reason why this hotel is cheaper has to do with what you don't get: no 24-hour reception or concierge, no baggage storage, no daily cleaning (unless you want to pay £25 extra per cleaning), and no amenities like a gym, a pool, or room service.
Lack of amenities aside, Sonder has you covered on the other fronts. You are given codes to access the front entrance and room, so no key needed. They are available 24/7 via the Airbnb app or phone—typical Airbnb messages were responded to in less than an hour, but I'm sure phone would be more expedient. Extra towels were provided, so you could go through a few during your stay. For baggage storage, they provide a discount code to Stasher, and even though I thought it was inconvenient at first to move the bags offsite, actually, it ended up being better because I could store my bags in another part of the city, closer to where I wanted to spend my final day in London.
Two things to know about this room (601) specifically. One is the strange placement of electrical outlets. There are 3 usable outlets behind the dresser and 3 usable outlets behind the night stands (one side has 1 the other side has 2). But there are no outlets anywhere near the desk, which was inconvenient. Second, this room appears to have a smaller window than other rooms in the building.
Finally, I'm sure this was just a fluke, but housekeeping made the bed with the open side of the duvet at the top of the bed, instead of at the foot.
To find other rooms in this building (there are many), I suggest that you type in the address (254 Edgware Rd, London W2 1DS) and zoom in the map to the corner that this building is on. Many more rooms will show up than just searching for Edgware Road, Sonder, etc.
Overall, for the price, our Sonder experience was worth it. The room was great. If you're comfortable with some of the quirks, I think you won't be disappointed.