This weekend is set to the busiest travel weekend of the year as millions head out of the UK on their summer holiday, and millions head towards the UK for the London 2012 Olympics.

With just 5-days to go until the Olympic opening ceremony, London is already feeling slightly more crowded than usual, and if you haven’t booked your hotel yet, you could be in for a rather hefty accommodation bill!

A study released by Santander shows that some of the capital’s hotels are adding premiums of up to 300% during the world’s largest sporting event, and if you are lucky enough to find a hotel room close to the Olympic Park in East London, you can expect to pay an extra £5,000 for your weeklong stay.

The study, which compared the cost of a one-week holiday for a family of four in two hotel rooms, found that the average London hotel will be 139 per cent more expensive during the Olympics, and if you are looking for a central London four-star property, you can add a further 245 per cent to your summer holiday bill.

While the weather forecast is looking up for the Olympics, the overcrowded transport networks and increased hotel prices are driving British travellers abroad, and if you are heading off somewhere warm and sunny today, you can expect to share your journey with up to 2 million others!