The Ace Hotel in New York City is the newest addition to the credit crunching hotels. With rooms starting at $99, the Ace is a great travel spot for those on a budget.
The Ace Hotel offers Bunk, Cheap, Standard, Deluxe, Super Deluxe and Loft rooms. So even if you’ve got money to spare, you can still find some luxury.
Implications - The travel and tourism industries were hit hard by the global recession as corporate trips slowed to a standstill and budget-crunched families opted for staycations. Some hotels were able to fill unsold rooms by creating recession specials, removing luxurious amenities to enable guests to have a hotel experience without paying for unnecessary comforts.