I am London based, so haven't stayed at either hotels, the Russell is a bit out of the main areas, sure it's only a quick tube ride away (nearest tube Holborn), the Sheraton however is in walking distance of the main "West End" attractions, Oxford Street, Buck House, The Parks, Whitehall, Parliament, Westminster Abbey, Trafalgar Square, Harrods, all are in walking distance.

I have had colleagues stay at the Russell and the comment has been full of "package tourist Yanks..".. sorry..!!

No argument if you are planning on sightseeing, then go the Sheraton. London locations do not come much better than this, Sheraton - The Park Lane Hotel.

Go the extra $90 you know you deserve it. ^