Accommodation idea for @media 2006

I had some people complaining about the price for accommodation in London. Well, it is true, this city is bloody expensive, but if you are not too afraid to rough it a little, and you get together and book a room for more than one or two people the Generator Hostel at Russel Square is cheap and good to use. 12 people could share a room for £12.50 a night each for example. I have a 6×1.5m balcony, in case you want to bring a sleeping bag.