This is the moment to take advantage of the best rates ever if you are planning to travel; they have never been lower since the collapse of tourism consequent to the world financial crisis.
The airline and hotel reservations have plunged; compelling the travel agencies and even the luxury five star hotels to offer incredible bargains and special treatments, in order to curb this drastic decline in occupancy.
The times have changed and we are back to when the rare travellers who could afford to stay at hotels, where always welcomed with exclusive hospitality.
According to a report from the Smith Travel Research, hotel reservations have plummeted, registering a difference in loss of $828 since November 2008, compared to the same period the year before.
Hotel construction has also stalled due to the decline in demand and consequently the stock performance has fallen 56%.
Those who are suffering the most are the luxury hotels that have recorded a decline of 15% to 24% in their occupancy. Business travellers are now choosing the less expensive hotels in order to keep their companies’ budgets in check.
Although the less expensive hotels have not suffered as much loss as the five star ones, they have had to implement measures to cut down costs, notably in the hiring of staff.
All of this makes it a once in a lifetime opportunity to take advantage or near empty luxury hotels and resorts all around the world that are begging for your business and will cut back prices to the lowest rate they can just to fill some rooms and maybe make a killing on the mini-bar.