Stay on a boat.
The population of Sochi, Russia, is expected to triple during the 2014 Winter Games. Hotels will be difficult to find. Housing is so tight that the Organizing Committee is not only building a village to house all athletes, but also constructing brand-new dormitories for all 25,000 volunteers coming from around the world.
To alleviate the accommodation shortage, the Russian Ministry of Transport has arranged for several major cruise ships to dock at the port of Adler to serve as "floating hotels" for the duration of the Games. These ships will sit close to the Olympic Village and the Coastal Cluster of Olympic venues. The Grand Holiday, Louis Olympia, Norwegian Jade, Princess Anastasia, and Princess Maria are all available for bookings and will provide accommodations for more than 10,000 spectators for as little as $86 a night. These ocean liners are being privately chartered by the Russian government, so the best way to book rooms on them is through Svoy-Sochi.ru, which has details on all ships available.