It will just be simple supply and demand. Bristol doesn't have that many hotels when it comes down to it, so there are just nights, sometimes, where there is nothing decent available short of £150-£200.
I've stayed in The Bristol, often, for £99 incl. breakfast and parking (the latter normally...
With the gentrification of Southville, you'd be fine at the Tobacco Factory or Hen & Chicken etc.
The Pump House more a gastro pub than a pub pub but, yes, plenty of pubs in that area.
Indeed - not too many friendly spots close to the ground. Southville isn't too far, with places like these: http://www.365bristol.com/story/2015/03/02/10-great-places-to-eat-and-drink-in-southville-in-bristol-/1075/ or somewhere like the Cottage Inn on the river: http://www.cottage.butcombe.com...