A number of luxury hotel groups could relinquish some of their stars in a bid to save money during challenging economic times.
Due to the recession, a number of luxury hotel operators are finding it difficult to attract customers because the majority of travelers seek out the best deal possible.
Rather than lose customers, hotels are being driven to reposition their hotels and lose a star. It is thought that in the next few months, very high end hotels may start to reposition to a lower price point.
This is supported by reports from the Middle East which suggest that luxury travellers will still travel, but expect more value for their money than ever. Luxury Travelers have been opting to visit destinations within Asia, Africa and the Middle East where luxury hotels are more affordable for travelers.