I did a search at some hotel search sites and surprisingly they are not. In cities like Paris and Rome hotels are still asking $500-$1000 a night in 5 star resorts. Even the the lower price hotels have not slashed prices. Right now you would expect them all to cut their rack rates by 50%. What does this mean. That the media is creating a more severe panic than what actually is occurring. You have look at real world data to see what is a happening. Maybe it will take a few more weeks for hotels to see the light. Even if you look at the cruise line industry they are holding the line on prices. I can understand that because they operate on thin profit margins. They make the majority of their money selling extras on the ship like excursions, food packages, liquor, you name it. It might take a while and maybe it won't happen till the virus is contained but there will be a world wide sale on everything from theme parks, movie theaters even restaurants to try to get customers back.
