How to Travel Like a Prince on a Pauper's Budget

Travel isn't getting any cheaper, but there are ways to save money without sacrificing quality.

Hotel rates are rising in major cities around the world, foreign currencies linger at all-time highs, and airfares are edging up due to higher fuel costs. Snatching good deals means being more flexible about dates, destinations and lodging options. Here are some strategies for enjoying first-class vacations at economy prices.

Skiing After Easter

Spring skiing has many advantages, including warmer weather, smaller crowds, lighter gear and steep discounts. Skiing conditions, of course, are more unpredictable at this time of year, when some days are more suitable for sunbathing than hitting the slopes.

Although some regions are traditionally better suited for late-season skiing, this year's snowfall was abundant nationwide. In California's Alpine Meadows, for example, it was almost double the norm.

Idaho's Sun Valley also received deep snowfalls this season -- about 180 inches by mid-February. Many resorts already announced they will extend their closing dates.

In other words, this is the spring to take advantage of bargain skiing.

After March 27, Sun Valley Lodge, a staple among skiers since 1936, will offer a special Spring Ski Package for $74 per person (double occupancy). This rate includes a one-day ski pass and can be booked for multiple days. The offer will continue through the end of the ski season, which is usually in mid-April. In high season, a similar room at the Valley Lodge costs $250, and a lift ticket goes for $79 per person.

Also in Sun Valley, Premier Resorts is offering several packages, including four nights in a two-bedroom, two-bath Elkhorn condominium and three days of skiing for $375 per person (min. quad occupancy).

Tropical Summers

A trip to the Caribbean is relaxing any time of year, and decidedly cheaper in the summer. Many resorts offer discounts and incentives such as free nights and activities. Airfares from the U.S. also start to decrease after April.

While tickets to Mexico and the Caribbean can cost more than $600 in December and January, summer tickets usually cost less than $400, according to Farecast.com. Even during hurricane season, which peaks in September, the risk of suffering a direct hit by a named storm is relatively low, though it's still a possibility.

At Discovery at Marigot Bay, for example, on the island of St Lucia, a room with views of the famed bay costs $378 from April to November, compared to $472 in mid-March.

This resort, a member of The Leading Small Hotels of the World, also offers a special summer package where guests can get a five-night suite stay for the price of three nights. St. Lucia, like many other islands, hosts a number of festivals and activities in the spring and summer. This year's St. Lucia Jazz Festival, from May 2 to May 11, has a lineup of renowned artists like Anita Baker, Jonathan Butler and Wyclef Jean, among others.

Carnival, on July 14 and July 15, is another big attraction.