Airlines and Hotel Services, cruise lines cut costs as economy drags

A sharp drop in demand precipitated by the economic downturn has prompted airlines, cruise lines and hotels to reduce their fares, fees and rates. Mike Driscoll, editor of Cruise Week, said the prices for cruises in Mexico, the Caribbean and other winter destinations have fallen as much as 10% on average. Increasing unemployment rates are keeping many consumers from planning a holiday vacation, and the dismal outlook for 2009 is expected to keep demand soft.

source : SmartBrief.com