I stayed at this place in 2010, shortly after it opened. It was the smallest hotel room I have ever stayed in (note: it was a 'single', booked as such, so I imagine doubles will be a little larger). It was air conditioned and clean and comfortable and had every amenity needed, though I never ate there (there is enough eating about without having to if you wish).
It is showing 'compact double' rooms from ~GBP102 (incl. b/fast) in March 2015 (April rates not loaded it appears).
It's about 10 minutes easy walk from Paddington Station. Do your research as TA has some mixed reviews - all I can say is it was clean, comfortable, well-located and well-priced for me. And note there is (or at least was) a hotel nearby with a similar sounding name - get the right one.
Park Grand London Paddington | Park Grand London Hotels