I'm guessing that for those three nights, location will be more important to you than the quality of the room.

Having had a quick look at what's available then, my suggestion would be the Novotel Waterloo which is available at 89GBP for the 30th Dec & 1st Jan, and at 120GBP for the 31st. Although you can't seem to book this place on the accor website - it did show up as available at www.lastminute.com.

Photos and info here: http://www.novotel.com/novotel/fiche...he_hotel.shtml (photos are accurate and show the standard rooms)

I unexpectedly stayed here last summer through a priceline deal and was more than pleasantly suprised with this hotel. Rooms are large and feature sofa beds (so you could always host an unexpected visitor, or two... it's easy to get stranded on New Years Eve, there's a taxi famine, and the public transport can barely cope with the demand). Rooms are very clean and pretty spacious by London standards, bathroom and WC are ensuite but separate - and there's a free gym and sauna... which might be perfect for you when trying to snap out of a hangover .

The address initially doesn't look too promising (especially when you see the map on the Novotel website), but it's actually in a perfect location.

Here's a map showing where it is in relation to Trafalgar Square (the hotel is shown by an arrow - Trafagar square is where 'The National Gallery' is located. It's about a mile away, and the walk itself is beautiful (takes about 20 minutes).

Here's a more detailed map showing the immediate surroundings. You can see the Novotel just to the right of Lambeth Bridge at the bottom. Walking North in front of St Thomas' Hospital is a gorgeous walkway alongside the Thames with spectacular views across the river to the Houses of Parliament. The most convenient tube stations are Waterloo and Westminster, and I advise the Thames river walk to reach both of them.

On many years there have been fireworks and spectacles on the Thames and the river is often an epicentre for New Years Eve Events.

The fact that there isn't a tube stop on the doorway to this hotel is the main drag, and one of the reasons that this hotel isn't used more heavily. The other drawback is that there aren't any convenience stores nearby where you can get reasonably priced drinks and snacks (you'll need to do a bit of forward thinking and plan your purchases in advance). BUT, the gym does have a watercooler, so you can always rehydrate yourself for free this way. (There's a mini bar too - but I never touch them).

It's a solid three star, and much better than many of London's 4* hotels. Definitely great value for money.

P.S. Just to add - EVERYTHING in London on New Years Eve seems to be insanely expensive. It's worth saving money on a room so that you have more for partying.