South Bank and Bank Side are across the Thames from the West End. Plus, it has several star attractions and while the area has numerous 5-star hotels, there is something for all budgets. It’s on the Piccadilly line, useful for reaching both central London and Heathrow Airport. The Victoria Station area, just south of Westminster and St James’s and on the fringes of the West End, has excellent transport links to Gatwick airport, and lodgings ranging from cheapies to pricey hotels. Mostly inexpensive guesthouses and chain hotels. It’s low on sights, but has excellent transport links to other parts of London, to Heathrow Airport, Gatwick Airport, and to Paris and Amsterdam via the Eurostar. King’s Cross, with its train stations, is north of Fitzrovia.
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A wide range of accommodation, cheaper than the neighboring West End. Just north of the West End, Bloomsbury and Fitzrovia are also centrally located, walkable to West End, with lots of bookshops, quiet streets, and the British Museum as the star attraction. This area is excellent for families staying in London. It’s easy to walk around and handy public transport connections to other parts of London. 4-star and 5-star hotels dominate, with some midrange bargains. The West End ( Covent Garden, Soho, Leicester Square, Oxford Street, Mayfair) is a central and convenient district with most of London’s theatres, top art galleries, excellent, varied dining for all budgets and much of London’s nightlife. Similarly, the best hotels in London are not focused in one neighborhood and it’s easy to find great luxury accommodations in most areas of London. Some neighborhoods are more central and convenient than others, given that most visitors to London walk or use public transport to reach the attractions.
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Since London’s best attractions are spread out, there’s no “downtown” as such, and much depends on your interests and budget. There is no universal “best neighborhood” in London. The charming midrange Strand Palace Hotel is smack in the middle of it all. This is the area I recommend for most first time visitors to London. Fun vibe, close to everything, lots of great places to eat.