We predict, a year or two down the road, that there will be a higher supply of hotel rooms. And a higher supply means lower occupancy, and a lower occupancy means there should be better rates for the consumer.

We've seen airfares as low as $179 each way from the East Coast to major European cities for travel between November 1 and March 31, and many hotel deals to match.

You can fly right now from the East Coast to London for as low as $289 round-trip. (Right now) it's cheaper to travel to London than it is coast to coast.

Always contact the convention and visitors bureau of the city that you're headed to. They can give you some ideas. They can give you phone numbers of services that might be able to find you rooms.

What's happening is consumers on the Internet can find great deals, both way in advance and last minute. The Internet is used by many retailers as a way of getting rid of inventory. When they realize that they've got two more hotel rooms or airline seats left to book they just keep slashing prices and slashing prices until they're gone. It's a great opportunity for consumers.

The smart thing to do long term in this environment is to invest in the strength of our brand name and we're looking to do that within the U.S. and the Euro zone.