
Over the last two years, the value of the US Dollar has significantly declined against foreign currencies significantly deflating Americans spending power abroad. The hotel and travel industries have been among the hardest hit by the drop in the dollar value as exchange rates have kept Americans from traveling to places where the dollar was once king and spending was frivolous. In today's market, room rates and occupancies have been drastically affected by the global economic condition. Small Luxury Hotels of the World sees 65% of their global business originating within the United States, thus making it crucial for member hotels to react to the current economic situation and reach out to the US traveler. With both the British Pound Sterling and Euro at their highest levels in decades, the challenges of hotels in the international markets are not only to maintain business levels but continue growth within them at the same time. READ MORE