As thoughts of recession hang over the heads and wallets of everyone, the upcoming holiday season looks to be one of the slowest for the travel industry since 2001.

Hotels have more vacancies than they can afford, and those who are still planning trips are downsizing from their luxury accommodations to more modest rooms. That means that luxury getaways stand to lose a lot of money unless they can somehow lure travelers to fill their suites.

Most luxury hotels are cutting prices. For instance, Las Vegas' exclusive Bellagio hotel is offering its rooms at $149 per night this fall, including the Thanksgiving holidays -- this represents a 50% discount from regular rates. Many of the country's top-rated hotels have slashed prices anywhere from 15%-50% over last year's rates. While some holdouts still haven't cut room rates, they are offering more package deals, freebies, and inexpensive extras, or specials through third party websites.

Despite hard economic times, no one wants to give up a vacation. If you're traveling this fall, don't overlook the typically pricier places to stay -- you may find a good deal with killer extras for around the same price as last year's family vacation when you stayed at a Super 8. Shop around resort properties and ask what extras they're throwing in for folks who make reservations now. If you look in the right places, you should score some free meals, massages, and activities for your family.

This USA Today article has a nice list of luxury getaways with incredible deals for fall travelers. Happy trails!