Hotel prices are expected to double during the 2012 Olympic Games in London, UK, according to a study by Rubicon.

The rates of the city’s 120,000 hotel rooms will be hiked due to the demand, predicts the study.

A total of 50,000 rooms have already been booked by the Olympics committee for officials, dignitaries and 22,500 worldwide media staff.

However, the study expects an 80% fall in corporate guests and international guest numbers may also fall because of high hotel room prices.

The firm based its predictions on the Vancouver 2010 Winter Olympics, according to