Hotel availability for 2012 London Olympics

In case you haven’t heard, the London Olympic Committee has returned 20% of its hotels room back to the market.  Thus, there are some decent hotel deals available (via Loyalty Traveler).  I’m considering a weekend trip to London for the Olympics myself.  I’ve wanted to attend the last couple of Olympics, in Beijing and Vancouver, but never took the initiative to make it happen.  However, I have been fortunate enough in my life to have attended the Olympics before (Atlanta 1996).  I always enjoying following the Olympics, so it would be nice to go again.