Newly renovated and conveniently located in Bayswater, the 33-room, 260-bed Astor Hyde Park Hostel offers easy access to Hyde Park and the city of London's major attractions. Catering exclusively to travelers between the ages of 18 and 35, this hostel is located in an old Victorian building newly renovated with all the comforts of modern life, including a satellite-TV lounge and a massive stainless-steel kitchen for the culinarily-inclined. There's also a bar and bistro in the basement that hosts DJs and live music.
Rooms range from an intimate three-bed dorm to a manageable ten-bed dorm; every room has its own bathroom (so you don't have to hike three floors away to relieve yourself in the middle of the night) and all dorms are mixed-gender. Expect to pay about £15 to £20 a night--less if you stay in one of the larger dorms.