Cheaper getaways

Bad news for the travel industry can mean bargains for travelers, but you'll have to choose carefully. Analysis from early in the financial crisis indicated that hotel rates had not fallen in many popular destinations, including New York City, Miami, and Colorado's ski regions.

Where are the deals? Smith Travel Research, which tracks hotel data, recently provided Consumer Reports with information on hotel rates between September 2007 and September 2008. For the sunny spots below, average prices have dropped from about 2 percent (Orlando) to about 15 percent (Bahamas). More distant destinations with dramatic decreases include London, Sydney, and Dubai, where hotel prices were down more than 11 percent, 15 percent, and 18 percent, respectively.

Sample 4-night trip for 2