According to the latest figures from Hotels.com Australian travellers heading to London for the Olympics are set for better accommodation pricing and opportunity than they were two months ago.

Information provided by the online hotel booking company shows the average price of a London hotel room has increased in price by approximately 93 per cent for the period January to March 2012 when compared to the same period last year. From January to March the average price for a London hotel room stood at $325 per night but since March the average price has decreased by $20 per night.

Director of marketing for Hotels.com Australia and New Zealand Katherine Birch said it was no surprise to see the steep increase in room rates but the sudden price drop was expected.

"It's inevitable that prices rise in host cities during major sporting events. During the 2010 FIFA World Cup in South Africa Hotels.com saw hotel prices in Cape Town rise 71 per cent. In London hotel prices have come down as there is still good deals and availability during the Olympic period. That's not to say prices will continue to drop further so travellers are advised to book now if they see a good deal and not to wait for bargains at such a busy time of the year." She said.

The Hotels.com figures also showed some trends which reflected the medal table from the 2008 Beijing Olympics. In China accommodation searches are up by 300 per cent and searches originating from Russia are up by 206 per cent, reflecting the medal tallies of first and third at the 2008 games. The USA was placed second on the 2008 medal table and in line with this result; searches from the sporting powerhouse have increased by 92 per cent.