The chief executives of the three publicly traded US online travel agencies -- Priceline.com, Expedia and Orbitz Worldwide -- see sharp drop in business travel due to the recession, freeing up hotel rooms in places like Las Vegas that depend on conferences.
"There are some great deals out there and you don't have to spend as much as you did last year," Expedia CEO Dara Khosrowshahi told the Reuters Travel and Leisure Summit in New York on Tuesday. He said hotels that rely on business travel were aggressively targeting the leisure travel segment to fill the gap. "That's a real silver lining for the consumer. The cost of travel has gone down pretty significantly year-on-year."
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