360DigitalInfluence

The current economic downturn has affected millions of people all over the world. Very few industries have managed to trudge through this economic downturn unscathed and, sadly, the travel industry is no exception – it is faring worse than many other industries. Airlines are cutting flights, destinations and prices just to stay afloat. Hotel expansions are on hold and growth of new and current brands have been sizably downscaled. A perfect example is NYLO hotels, which unveiled a XP Hotels, a loft style brand, in 2005 with the ambition of having 50 properties open by 2010. However, to date, only two locations in Texas have actually opened – Plano and Warwick – with another planned opening in Irving next month. Lack of commercial lending and a deteriorating travel market, especially in the luxury category, are taking a heavy toll on the hotel industry.

On the bright side, all this doom and gloom translates in to great savings for travel consumers. Flights, hotels and attractions are the most affordable they have been in years and, compared to last summer, when gas prices hovered close to $5.00 a gallon, car travel is again reasonable. Hotels are giving away free nights and free food to entice customers to their brands. Summer flights are much more reasonable and internationally, the dollar is way up, making foreign destinations, which became so expensive over the last few years due to the sinking dollar, once again affordable. Disney is offering amazing package deals  – even Amsterdam is even giving away free hotel nights.

Now is definitely the time to scratch that travel itch and take advantage of the amazing travel deals to be had!