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 mirror.co.uk.