At press time, farecompare.com found that prices for business-class flights from New York, Miami, Chicago, and Atlanta to London had dropped by as much as 55 percent from a year ago.
According to hotels.com, the biggest rate drops among U.S. cities are in New York and Las Vegas—both down by 30 percent from 2008 to 2009. Prices in European cities have decreased by an average of 16 percent.
In previous years, all but a few of rental agency Wimco’s properties would sell nearly nine months in advance for peak times. Today, that booking window is down to just two months.
Airlines such as Southwest and American and hotels including Kimpton and Fairmont now have dedicated teams monitoring the Twittersphere for mention of their brands.