If you're planning a trip to London, you might be keen to discover ways in which you can save a little money during your break. After all, the capital can be an expensive place to visit – but this doesn't mean your holiday needs to break the bank. Indeed, there are plenty of ways you can enjoy London for less, such as by carefully selecting your accommodation.

London hotels can be among the most expensive elements of your holiday, but there are a number of steps you can take to make sure that you secure the best deals possible. So, you could find you have all the more to splash out on treats while you're there.

Before making your booking, you should consider taking the following steps to discover cheap London hotels that suit your budget and preferences.

The first thing to remember is that flexibility can make a big difference when it comes to how much you spend on central London hotels. If you are willing to make small compromises on details, such as location and your travel dates, you could find yourself making sizeable savings.

However, before you can ascertain whether any alterations to your itinerary could impact on your expenditure, you should establish exactly what it is you need from your accommodation.

Location, of course, is a crucial consideration – and one that can impact on how much you spend. Hotels in the very centre of London, for example, are likely to cost more than those situated a little further out.

The outskirts of the city typically have good tube and bus links, which means you should be able to travel into the heart of the capital easily and cheaply. However, there may be situations in which this is not the best value option.

If you are travelling to a certain event, for instance, you could find that it works out cheaper to spend a little more on a low-cost hotel nearer to the venue and therefore reduce the price of journeying to and fro each day.

Which option is best for you will largely depend on your individual travel plans, so it's well worth doing some sums before making your final choice.

Your preferred travel dates can also impact on the cost of your room. Staying in the capital during peak periods will typically mean you will pay higher prices, while you may find the same is true during certain large events or festivals.

So, if you can be flexible when it comes to the dates of your stay, you could benefit from cheaper accommodation.

Also affecting prices, the timing of your booking is another factor to consider. Making your reservation either far in advance or last minute both often offer better rates than you would otherwise find.

If you don't intend to travel for some time, you might want to book your accommodation now to take advantage of early-bird deals – but if you're likely to head off in the next few months, it might be useful to wait and try to find a last-minute offer.

However, the latter option can be risky in that there is no guarantee you'll find your desired deal – so it may be best for those who are more flexible when it comes to dates, locations and prices.

Among the other things to consider are any extras each hotel may offer you, such as a free breakfast. These could help you to reduce the overall cost of your trip.