I checked hotels the other evening as I was worried my plane was about to be cancelled and I could find nothing south of £500 anywhere near Heathrow, a few options at £450 started to pop up when I took the radius on Trivago to 20 miles. So I can believe the OP’s figures. There were reasonable options briefly popping up at Bath Road hotels but when you clicked through to book, they’d already gone. It is probably the busiest week in London since the pandemic, given Wimbledon and a full Wembley each night for Ed Sheeran.