Five-star hotels in India have cut rates to almost half that of 2008 amid the global economic slowdown and decline in visitor arrivals.
According to the Travel Agent Federation of India, hotels typically offer 15% to 20% discounts in low seasons but discounts are between 20% and 40% during the peak season in 2009.
As a result of the price slash, traditional Indian budget travellers have the opportunity to travel more luxuriously, while traditional luxury travellers are travelling overseas with better deals.
www.hvs.com 
