Hotel prices are notorious for increasing ahead of international sporting events, but in London the average price has actually decreased by almost $20 a night.
A London hotel room during the Olympic Games in July and August costs on average $325, an increase of 93 per cent to the previous year.
Accommodation website www.hotels.com has found hotel prices have decreased by $20 since March this year.
The online hotel reservation system believes the price cut is due to the number of rooms and deals still available just days before the Olympics.
Further price drops on top of the $20 decrease are not expected ahead of the European summer, which is traditionally a busy time of year.
Rates also vary depending on how close people stay to Olympic venues.
The most popular night for hotels is the opening ceremony on July 27 and the first day of the athletics on August 3.
However, a four-star hotel in central London away from the opening ceremony could cost as little as $233, according to www.hotels.com.