I went to Princes Square Hotel for 4 nights on a long weekend in september with a friend.

Main reason for the trip was shopping, sightseeing and concert, and we did not want to use a lot of money on a hotel. We found Princess Sqare Hotel online and decided to try this hotel.

Hotel room:
Our expectations were low considering the price was so low, and we were therefore very pleasantly surprised by the hotel.
The room was very clean, and the bathroom was nice. I missed having a face towel and a toilet brush in the bathroom, but apart from that it was great.

Staff:
Staff was nice.

Wifi:
I missed Wifi in the room. I understand they offer wifi, but only in public areas for a fee.

Breakfast:
The breakfast was simple, but good. Breadproducts and croissant, cereal and juice. Assorted jams and cheese. They were constantly refilling the breakfast table so nothing got empty.

Transport:
Nearest Underground Station is about 5 min walk from the hotel. Paddington Trainstation is also quite close. Heathrow express train runs directly from Heathrow to Paddington.
The underground makes it easy to get around the city.

District:
The hotel itself is located in a quiet street, but a 2 minute walk and you are on a street with lots of restaurants, souvernirshops and other shops. You also have a shopping sentre close by.
Kensington park and Hyde park is also close by.

Summary:
Good value for the money, clean, nice staff, nice breakfast, central.

I'm actually so pleased by the hotel that I just booked the hotel again to stay there when I'm going back to London in December.

We stayed here during the Olympics for 4 nights.
Pros:
Decent location

Cons:
Drunks outside EVERY NIGHT. There is a hostel next door (Central Hostel) and they yell, sing, fight and howl ALL NIGHT. Literally until 04:30 - 05:00. The next morning, the area is littered with bottles and cans.

The sole employee at the front desk was completely disinterested in being helpful. We arrived exhausted from traveling for the previous 14 hours aboard an aircraft that seemed to be prone to mechanical delays. I asked if she could recommend a restaurant nearby for a bite to eat. Her reply...."No". That was it - no. I laughed uncomfortably, not knowing if she was joking and asked again. She said, "I don't know if you want a restaurant to sit down or a deli". I said that I just wanted a sandwich or something and she said - "Go to Subway". I don't think there is even a Subway nearby.

There is only one towel in the room per person. No face towel or hand towel - and it wasn't changed by room service.

No air conditioning!! and you couldn't open the window due to the drunks outside!

WiFi is ridiculously expensive.

We wouldn't go back.

Why - surprisingly? Because I got used to the fact that most hotels in London are crappy, but nevertheless expensive. I've read lots of reviews before choosing this one, most of them were positive. But still I had doubts. My trip to London was right before and during the Olympics, so I didn't have much choice. Princes Sq. prices seemed decent, and location was good. So I took the risk ))
Double room was not too big, but considering this is London we're talking about - good enough. Furniture looked new. The hotel in general looked renovated. Clean bathroom. Comfortable bed. Big-size mirror in the room! Not too much space in the wardrobe for two, but we survived. Helpful staff.
Location is good. It's close to Bayswater, but keep in mind that District and Circle lines have more delays than other lines, especially in the morning. So it might be easier using the Central line instead - Queensway station is just extra 3 minutes walk.
The area is nice - lots of shops, pubs, cafes and restaurants around. Very nice greek grocery just around the corner - fresh fruit and yoghurt - good substitute to hotel's breakfast.