With near-perfect timing for holidaymakers, the pound has started its fightback, rising to a six-month high against the dollar and pushing back the euro to the 1.15 mark. Last week, Travelex was offering $1.54 to the pound, the highest rate since November 2008, while the tourist rate for the euro climbed to a more modest - and shakier - 1.11.
With hotels and attractions across America struggling against the collapse of the domestic tourism market, holidays there now offer even better value than in the glory days when the pound bought two dollars. Desperate hoteliers are scattering special offers like confetti, with extra nights, upgrades, free dining and bar credits.
The MGM Grand in Las Vegas has slashed room rates to £38 a night, including all meals, in a bid to lure visitors, and a studio in the fancy Mondrian, on Miami's South Beach, is down 25% to £113 a night. LA hot property the Oceana Santa Monica has cut its rates by £125 a night - rooms are down to £157, B&B - and you can upgrade to a suite for another £16
"It's only during the past 18 months that the pound reached the $2 level," says Peter Moss, the Visit USA Association chairman. "The average over the past 10 years is about $1.50, which is what it is now. And it's worth remembering most brochure pricing for this summer was done last year when it was still $2 to the pound."
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