Travel Industry Shaken by Economic Downturn

The travel industry has been hit hard by the economic slowdown, particularly in the last few weeks.
Airlines reported sharp declines in passenger traffic for September. Hotel occupancy rates are down, and corporate travel managers are demanding new concessions on previously negotiated deals. Cancellations are starting to rise even at four- and five-star hotels, which previously seemed immune to the economy’s travails.
Months ago, the nation’s airlines, which are grounding some of their older jets, announced plans to cut 8 to 10 percent of their domestic flights after Labor Day, so traffic was expected to be down. At the same time, the airlines planned to raise fares on their remaining flights. More... Discount Magazine Subscriptions - Discount Cigarettes & Tobacco - Nutty News