Yes, I'm doing at stay at a HI for £36 this Friday for precisely the same reason.
But you don't have to spend as much as £69. HIX London Limehouse is £59 for this Friday for example.
HIX London Stratford is available for £52, Chingford for £49, Hemel Hempstead for £38, HI Heathrow for £37, plus several others in the London area for £40-ish prices. (Just make sure you are booking the Autumn Blues promotion in the IC Master Promo thread.)
Good points though one does have to include cost of travel,length of travel ,perhaps parking charges and sheer convenience(i fly into LCY on eve of 14th).Oh yes.....and you've got VAT.Limehouse seems to be one of the few properties priced inclusive.I think the GBP59 is the adv rate while the GBP69 is the current 'ponder' rate:-) Hotels are evidently quite empty so perhaps a little gentle neighbourly negotiation would work....