Hotel prices in London could triple this summer during the Olympic Games, as thousands of competitors, officials and spectators flood the city during the event.

The average cost of a London hotel room during the games will be £213 (€256) a night, 102 percent up on the same period the year before.

There is a possibility that hoteliers may be holding back some rooms, releasing them slowly in the run up to the event to test how much people will pay — although some hotels ended up with lower occupancy after being ‘caught red-handed’ using this strategy during last year’s Royal Wedding.

If the thought of an eye-wateringly expensive hotel during the games doesn’t appeal, fortunately, there are a host of alternatives.

Camping is expected to be one of the biggest beneficiaries of the Games, with the World Travel Market Trend Report last year predicting that Londoners would be renting out their garden space.