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NEW YORK: President Obama and his fellow southpaws have cause for celebration this week: Thursday marks the 18th annual International Left-Handers Day. But for entrepreneur Margaret Majua, founder of Lefty’s San Francisco, every day is an occasion to give thanks for lefties.Majua spotted an ad two years ago for a strange-looking writing instrument called the Yoropen. Shaped like a grasshopper, the pen was touted as a writing boon for left-handed people because its design allowed lefties to see what they’d just written without smearing it.”At first I thought it was pretty creepy-looking,” she says. “Then I thought it might just be weird enough to sell.”Her instinct paid off. The Yoropen is now one of the bestselling items at Lefty’s San Francisco: The Left Hand Store, which Majua opened in March 2008 on San Francisco’s iconic Pier 39, adjacent to Fisherman’s Wharf.Lefty’s is one of the world’s only brick-and-mortar stores catering to the left-handed. It continues a San Francisco tradition: Thirty-one years ago, Left Hand World pioneered the market, opening on Pier 39 in a tiny 350-square-foot space. The store closed a decade later, but it spawned a solid fan base. The landlord searched for a tenant to continue the store’s theme in the original location, but found no takers — including Majura, a serial retailer who opened her first Pier 39 enterprise, a refrigerator-magnet store, in 1986. Since then, she’s created more than 20 themed specialty stores in tourist destinations such as Las Vegas, Hawaii and Disney World.Armed with that experience, Majua decided it was time to take the left-handed leap. Fueling her commitment was the discovery that the very few retailers selling left-handed products stocked only items that were already commercially available.”No one had developed a product line,” she says, adding that she wasn’t impressed with what was already on the market. “I knew I had to fill the store, but I also wanted the stuff to look good together. I’m fascinated by merchandising.”As part of her reinvention plan, Majua — who is right-handed — invested about 100,000 to develop a Lefty’s product line of 20 stationery items, such as spiral notebooks, sketchbooks and memo pads, all with the spirals on the right side. She is also developing a dozen kitchen tools, including vegetable peelers, pancake turners, and measuring cups, which are scheduled to be available as gift sets at the end of the year.”Smaller companies don’t have the financial resources to develop products for left-handers, and larger companies don’t see this as a big enough market,” Majua says. “I saw it as niche I could fill.”Left-handed iconsIt’s a niche with a star-studded history. Only an estimated 10% to 15% of the population is left-handed, but the roster includes such luminaries as Leonardo da Vinci, Bill Gates, and five of the last seven U.S. presidents. Lining Lefty’s walls are framed pictures of left-handed celebrities such as Beethoven, Mozart, Judy Garland and Alexander the Great.Even pop culture is represented. Sandwiched between Queen Victoria and Mark Twain is Ned Flanders, the left-handed character on The Simpsons who runs his own retail store, The Leftorium. In Lefty’s, Flanders has his own 14-inch plush doll, as well as a 5 refrigerator magnet — and he’s been outselling President Obama, who’s represented on a t-shirt with the tag line “Obama is a leftie.”"Customers who don’t know President Obama is left-handed ask us if the tag line refers to his politics,” says Kelly Kempczenski, Lefty’s manager. Like Obama, the store’s sales staff are all left-handed, and love demonstrating Lefty’s products for the curious or the desperate.”Many left-handers have already adapted to regular products, but half of the people who try one of our left-handed products buy it,” says Kempczenski, recalling how her elementary school teacher tried to make her use her right hand. “I use left-handed pens and scissors myself, and they’re really useful.”They also sell well. Pens and pencils for lefties account for 25% of Lefty’s sales, with that strange-looking Yoropen — available in four styles in the 6 to 60 price range — responsible for half of Lefty’s pen sales. Notebooks are also popular, especially during back-to-school season. About 20% of Lefty’s revenues come from online purchases, where the average order totals 60.Majua projects that Lefty’s 2009 revenues will reach the high six-figures. Early next year, she’s planning to move the store to a new location 100 feet away with nearly triple the space. She’ll need it to stock an expanded range of left-handed kids’ products, including guitars, baseball mitts and golf clubs.She’s also considering selling her custom products to other left-handed retailers. “My ego doesn’t want to, but business reality will probably dictate I will,” she says.There’s another motivation at work as well, she concedes: “My staff has made me really aware of how customers really appreciate the products, which has inspired me to design and stock more of them.”

NEW YORK: Looking for more evidence that maybe, just maybe, those green shoots aren’t really just sprouts of crabgrass? Look no further than the comeback of Whole Foods Market.The organic food retailer — jokingly referred to by many as “Whole Paycheck” because prices are so high compared to other supermarkets –actually reported a slight increase in its fiscal-third quarter profits Tuesday. Analysts were expecting a 13% decline in earnings.For Whole Foods (WFMI, Fortune 500), which had been struggling well before the recession hit, this was the first time that earnings rose on a year-over-year basis since the third quarter of 2006. Sure, like many other companies, Whole Foods benefited from cost cutting. But sales did rise 2%, so growth was not just a function of firing people and reducing corporate expenses.Wall Street ate up the news. The stock soared more than 15% Wednesday, continuing a surge that began earlier this year on economic recovery hopes.But does the fact that consumers are once again embracing Whole Paycheck really a sign that the economy is getting back on track?It’s tough to say. Consumer spending did decline in the second quarter as many hunkered down and added to their savings. That trend is likely to continue. With that in mind, it was interesting to note that Whole Foods executives went out of their way to stress during the company’s conference call Wednesday that they are not trying to position Whole Foods as a grocery store only for the affluent.”We do not believe we are marketing to an upper-income customer. We have never believed that. We are primarily marketing to a well-educated customer, a customer who has made a lifestyle change and that tends to correlate in terms of healthy eating with being a better informed customer, better educated,” said chief executive officer John Mackey.Talkback: Do you shop at Whole Foods or do you think their prices are still too high? Leave your comments at the bottom of this story. Co-chief operating officer Walter Robb added that the company has been focusing on keeping prices lower in the past year in order to slow the loss of customers. Robb said that these efforts were a key factor in the company’s recent success.”People are giving us increasing credit for being competitive, and also they’re seeing the visibility of the value in the stores,” he said.And it does seem that consumers, while remaining thrifty, are willing to shell out on the finer things in life, whether it’s an organic free-range chicken or a new car, if the prices seem reasonable. “It is possible that with a better value image, WFMI is benefiting from more confident consumers spending their marginal disposable income on modest luxuries, like lunch at Whole Foods,” wrote Jefferies & Co. analyst Scott Mushkin in a report Wednesday.0:00
/2:34Profiting from green eatsBut make no mistake. Whole Foods hasn’t suddenly transformed into Wal-Mart, or for that matter, Kroger. And even though total revenue was up, sales at stores open at least a year, a key figure in retailing known as same-store or comparable sales, fell 3.8% from a year ago. So the total sales growth was due more to an increase in the number of stores.As such, Simeon Gutman, an analyst with Canaccord Adams, said that the company still needs to show that demand is really improving.”They’re getting a little bit of foot traffic back. There’s not this same feeling of devastation that we had six months ago,” he said. “But going forward, sales are going to have to be more responsible for earnings growth. That’s a more challenging proposition.” CEO Mackey conceded that Whole Foods is kind of like the proverbial canary in the coal mine for consumer sentiment. It seems safe to suggest that if more people are willing to spend 4.79 for a box of six Kashi TLC granola bars (that was the regular price listed for Whole Foods stores in Manhattan), they must be more confident.”It could be the economy is firming up and people are feeling like we’re going to avoid a depression,” Mackey said. “You could take this as an early indicator that maybe the economy is getting better if Whole Foods has firmed up some. But we don’t really know.”And that’s the scary thing. Nobody really knows. So far, Whole Foods appears to be the only high-end (sorry, Mr. Mackey, but perception is reality) retailer to be making a comeback.Still tough times for retailHandbag maker Coach (COH) reported last week that its fiscal fourth-quarter sales were down slightly and that profits plunged 32% from a year ago. Jeweler Tiffany & Co. (TIF) and apparel retailer Nordstrom (JWN, Fortune 500) will report their second-quarter results later this month. Analysts are expecting sizeable drops in sales and earnings for both companies.And even if you agree with the notion that Whole Foods is just a grocery store chain, results from other supermarkets aren’t looking too promising. Supervalu (SVU, Fortune 500) reported a 30% decline in first-quarter earnings last week while Safeway (SWY, Fortune 500) recently lowered its full-year profit and same-store sales targets for the second time this year.As a result, Bob Summers, an analyst with Pali Capital, suggests that the turnaround at Whole Foods is simply a refection that the company’s efforts to get back on track after years of poor performance. So it’s just good news for Whole Foods, not the broader economy.”It would be categorically inappropriate to extrapolate Whole Foods’ results as a sign that the consumer is recovering,” said Bob “If you look at what retail sales are, they are still pretty horrific.”Talkback: Do you shop at Whole Foods or do you think their prices are still too high?

NEW YORK (Reuters) — The dollar fell to a six-week low against a basket of major currencies Thursday after strong results from JPMorgan boosted hopes for a U.S. recovery, diminishing the greenback’s safe-haven appeal.JPMorgan Chase said strength in its core consumer and investment banking business boosted earnings per share, surpassing expectations and prompting investors to sell the dollar for higher-yielding currencies and assets.The euro and sterling rose, erasing losses against the dollar, while an index that measures the greenback against six other major currencies hit its lowest since June 4.U.S. stocks opened mixed after a government report showed the number of Americans filing new claims for jobless benefits fell last week to the lowest since January also boosted sentiment.”Positive earnings and optimism in equity markets are really what’s been weighing on the dollar this week,” said Vassili Serebriakov, a strategist at Wells Fargo in New York. “The data, at least in the near term, is likely to add to the optimistic mood in equity markets and hurt the dollar.”The euro rose 0.3% to 1.4139, near a 1.4165 session peak, according to Reuters data, and off the day’s low of 1.4056. Sterling rose as high as 1.6462 before easing to 1.6449, up 0.1%.Some market participants said euro-dollar trade may be choppy ahead of options expiries later in the day. IFR reported that 200 million euros’ worth of options with a 1.41 strike price were due to expire.The yen, which usually also weakens when risk appetite rises, held gains on Thursday. Though above session lows, the dollar was down 0.6% at 93.70 yen while the euro and sterling also slipped against the Japanese currency.Some analysts said that may signal that risk-seeking behavior may not last long.”The financials beat the numbers with very clear help from the government, but when you look at the real economy companies, you’re seeing a difficult road for them,” said Boris Schlossberg, head of FX research at GFT Forex in New York.”So I think this big burst of enthusiasm could fade as the day goes by and risk currencies could come off their highs. I still think the problems in the real economy still persist.”The New Zealand dollar fell after ratings agency Fitch downgraded New Zealand’s sovereign outlook to negative, citing a high current account deficit.The Kiwi fell 0.6% to 0.6449.China grows, market caution lingersSpeaking after a meeting with his French counterpart, U.S. Treasury Secretary Timothy Geithner cited a “very encouraging” improvement in financial system stability.Encouragement also came from China, where data showed the country’s economy grew 7.9% in the second quarter from a year earlier. That beat expectations and boosted hopes the biggest emerging economy will lead the way out of the worst global downturn since the 1930s.JPMorgan’s (JPM, Fortune 500) strong performance comes on the heels of stellar earnings from Goldman Sachs (GS, Fortune 500) earlier in the week. Citigroup (C, Fortune 500), General Electric (GE, Fortune 500) and Bank of America (BAC, Fortune 500) are expected to announce results on Friday.Elsewhere, data showed the United States saw overall net capital outflows of 66.6 billion in May. The dollar fell more than 6% that month against major currencies, largely due to rising optimism about a global recovery.In Paris on Thursday, though, Geithner reiterated his support for a strong dollar and said it would remain the world’s reserve currency.

Source:CNN

WASHINGTON (Reuters) — A key bank regulator has been “very reluctant” to provide relief to lender CIT Group through a government debt guarantee program, a source familiar with the matter said Monday.The source said the Federal Deposit Insurance Corp. has been cool to the idea of granting CIT access to its debt guarantee program, partly because the regulator is not satisfied with the lender’s collateral, even though the Treasury Department and Federal Reserve have been more supportive of such a move.The Treasury and Fed are exploring other ways to provide relief to the New York-based commercial lender, including possibly granting CIT’s request to transfer assets to its CIT Bank unit, the source said, speaking anonymously because the government discussions have been private.An FDIC spokesman said the agency does not comment on pending applications. Treasury and the Fed did not immediately respond to a request for comment.CIT (CIT, Fortune 500), which provides financing to many small and medium-sized businesses, has said it is in talks with regulators about how to improve liquidity after billions of dollars in losses have resulted in a credit crunch.It previously received government aid in December when it became a bank holding company and obtained a 2.33 billion capital injection from the government’s Troubled Asset Relief Program (TARP).CIT’s request to access the debt guarantee program comes as the FDIC tries to wind it down. The program was put into place in October in a bid to boost confidence in the banking sector and unfreeze credit markets.Many of the largest banks which previously participated in the program have been issuing large amounts of debt not guaranteed by the FDIC — a key requirement for banks to repay government TARP funds.The program is also designed as a program for healthy institutions, and the FDIC fears granting CIT access to it involves too much risk exposure.The Treasury and Fed have been exploring other options for CIT, including the transfer of troubled assets from the holding company to its depository bank unit, which the source said would take a lot of pressure off CIT’s financial situation.Treasury Secretary Timothy Geithner said on Monday that the government is closely watching developments associated with CIT and is confident the government would be able to deal with the lender.”I am actually pretty confident in that context that we have the authority and the ability to make sensible choices,” Geithner said in London in response to a question about how the U.S. government might deal with the company.CIT’s deteriorating condition comes as the government is seeking the authority to resolve problems at bank holding companies in an orderly manner.The FDIC currently has the authority to wind down troubled depository banks but does not have similar authority to resolve issues at bank holding companies that have become insolvent.The Obama administration has proposed expanding FDIC’s powers to include bank holding companies.In afternoon trading, CIT shares were off 12 cents or 7.8% at 1.41.

Source:CNN

ATLANTA (CNN) — Prices at the pump dropped more than a dime over the past two weeks, according to a survey published Sunday. The average price of a gallon of self-serve regular gasoline is 2.55, the Lundberg Survey found — a decline of 10.4% from June 26. The decline was the first two-week drop since March, when prices went down a penny, said survey publisher Trilby Lundberg. It was the largest two-week decline in gas prices since early December. It can be traced to rapidly dropping crude oil prices during the same period, Lundberg said. A year ago, on July 11, 2008, gas prices were a record-setting 4.11 per gallon — 1.56 above this week’s price, she said. The current price is the result of a global oversupply of crude oil and petroleum due to eroding demand in the ailing economy, she said. 0:00
/3:24Ford: Consumers want green cars”The recent drop … comes directly from lower oil prices. We can expect further price cuts at the pump going forward — maybe huge ones — in the coming weeks” depending on crude oil prices and the unemployment rate, Lundberg said. The city with the lowest average price in the survey was Wichita, Kansas, with 2.26 for a gallon of self-serve regular. The highest was Honolulu, Hawaii, at 3.20. Here are the average prices in some other cities: – Charleston, South Carolina — 2.36 – Houston, Texas — 2.37 – Atlanta, Georgia — 2.42 – Baltimore, Maryland — 2.48 – Billings, Montana — 2.59 – Salt Lake City, Utah — 2.61 – Portland, Oregon — 2.68 – San Francisco, California — 2.94 – Boston, Massachusetts — 2.61

Source:CNN

LONDON (Reuters) — Oil fell to around 64 a barrel on Monday and touched a five-week low, pressured by doubts over the prospects for a global economic recovery.The U.S. jobless rate reached a 26-year high and Euro zone unemployment is at the highest in a decade, reports showed last week. Oil fell even after militants attacked oil installations in major African exporter Nigeria.U.S. crude fell 2.74 from Thursday’s close to 63.99 a barrel. It traded as low as 63.85, the lowest intraday price since May 28. Brent crude fell 1.71 from Friday’s close to 63.90.”It’s a definite break to the downside, probably sparked by the poor economic data and stalling stock markets,” said Christopher Bellew, a broker at Bache Commodities in London.”It’s completely broken through its support at around 68.00-68.50 and technically and probably fundamentally, heading lower now,” he added, referring to Brent crude.NYMEX floor trading was closed on Friday because of the U.S. Independence Day holiday and, although oil traded electronically, the exchange did not issue an official closing price.Adding to pressure on oil, European stocks got off to a weaker start on Monday following on from losses in Asia. U.S. stock futures pointed to a lower opening on Wall Street.Investors will focus later this week on a meeting of the G8 industrial nations. The summit was expected to highlight signs that economies were stabilizing, but emphasis that it was too early yet to withdraw policy stimulus.Societe Generale said the correction in oil prices, which surged 42% in the last quarter, was long anticipated. It predicted that oil prices would continue falling and average around 60 a barrel in July.”Non-fundamental price support, based on economic optimism, risk appetite, and increasing medium to long-term inflation expectations, has faded for now,” Michael Wittner of SG said in a research note.Attacks on oil installations in Nigeria, traditionally Africa’s top oil producer, could limit losses.Chevron (CVX, Fortune 500), Royal Dutch Shell (RDS.A) and Italian energy firm Agip have cut oil output by around 273,000 barrels per day in the last six weeks following the latest campaign of militant violence.

Source:CNN

(Fortune Small Business) — Last year Vincent Stevens’s church ran an experiment: 10 members were each given 100 to help their communities. Some gave the money away; others used it as seed capital to raise thousands more. Stevens, 40, a partner in the Bellevue, Wash., accounting firm Clark Nuber, wondered what would happen if his company did something similar. To find out, the company launched Caring, Serving and Giving, a program that lets employees apply for grants of up to 500 to fund community service projects. The first grant went to senior auditor Hillary Parker, 27. She and a colleague used the cash to turn a local St. Patrick’s Day run into a charity fund-raiser that netted 750 to build two pools for rehabilitating marine mammals caught in oil spills. “I don’t think this would have happened without the seed fund,” Parker says. While the program certainly does some good, it’s unclear how it helps the bottom line. “It’s really hard to put your finger on the ROI,” admits CEO David Katri, 59. But experts say that such programs do tend to boost employee morale. “Things have shifted over the past 10 years in terms of what employees look for when they join an organization,” says Laurie Bienstock, who heads the U.S. strategic rewards group at Watson Wyatt, an international consulting firm. “In general, employees are looking for a more well-rounded approach where they work, so giving them the opportunity to contribute makes a lot of sense.” Whatever Clark Nuber is doing seems to be working. Last year the 160-employee firm’s revenue grew 16%, to 30.9 million, slightly better than the industry average of 14.5% for independent accounting firms, according to the Leading Edge Alliance, an accounting trade group to which the company belongs. Plus, its turnover rate was 13%, below the 14.7% industry average. In a competitive field, both are advantages. “Turnover in accounting firms is terrible for clients,” says Katri, “and bad for business.” Talk back: Tell us how your company motivates its staff.

Source:CNN

(Fortune Small Business) — Susan Johnson always dreamed of volunteering abroad. In May, her wish came true when she flew to Rwanda to work at a vocational institute for low-income women. Although she will be away for four months, she’ll receive her full salary from Seventh Generation, a Burlington, Vt. manufacturer of recycled and nontoxic household products. “I wouldn’t be able to afford this if I wasn’t being paid,” says Johnson, 60, the director of education in the company’s sales department. The sabbatical program is one of many benefits offered by the firm, which generated 150 million in revenue last year. Employees’ health-care premiums are 100% covered — as are their dependents’ premiums after five years with the firm. Seventh Generation also lends employees up to 5,000 to make their homes or cars greener. Although the company spends about 3 million annually on such benefits — 2% of revenue (within industry norms, according to the Bear Agency, a Troy, Mich., health-care consultancy) — CEO Jeffrey Hollender claims it’s money well spent. “We get commitment and passion, which increase productivity,” he says. As evidence Hollender points to the company’s 4% turnover rate and its nearly 1.5 million revenue-per-employee rate. Both compare favorably with the national averages (19% and 500,000, respectively), according to the Society for Human Resources Management. The key factor, though, is a culture that encourages dissent. When Seventh Generation hired a doctor as a spokesperson this year, several staffers, including Johnson, wanted the company to disclose that he was being paid (it eventually did). “The employee’s perspective is very influential in our thinking,” says Hollender. That influence does have its limits. Despite owning nearly 14% of Seventh Generation, workers have no representation on the board — the subject of a long-running dispute between employees and management. And some workers complain that there’s too much disparity between the bonuses of the lowest- and highest-paid employees. Although these issues remain unresolved, workers do seem to feel empowered by being able to discuss them openly. “People are not shy about talking to management if they disagree with something,” says Sarah Thompson, 33, the firm’s online business manager. “That should be the case for a socially conscious company.” Talk back: Tell us how your company motivates its staff.

Source:CNN

(Fortune Small Business) — After taking a six-week, fully paid maternity leave earlier this year, Francine Gemperle was anxious to resume her job but reluctant to be away from her infant daughter, Veronica. Fortunately, she didn’t have to choose between them. Maya Design, a Pittsburgh-based creative consulting firm, allows parents to bring newborns into the office. “If I’d had to leave my children after my maternity leave ended, I would never have gone back to work,” says Gemperle, 34, a designer and researcher, who also brought her son Milo into the office after he was born. She’s not the only parent taking advantage of the perk. Senior analyst Jon West brings his 10-month-old son, Owen, to the office several times a month. In fact, when West considered using only part of his paternity leave, his co-workers urged him to take all six weeks. “I had pressure to take that leave,” recalls West, 42. “People told me, ‘It’s an important part of your life and you need to experience it.’ ” Of course, having a bassinet or crib beside a colleague’s desk could easily create tension among the staff — especially at a firm like Maya, which has an open floor plan. “No matter how quiet the baby, it’s an obvious distraction,” says Tory Johnson, the chief executive of Women for Hire, a New York City-based recruiting firm. No one has complained yet. Even if somebody did, it wouldn’t matter to Mickey McManus, Maya’s CEO and president, who argues that the policy builds loyalty and helps parents shift back into work mode. “Babies at work, four-week vacations, continuing education — it’s important to strike a good balance between work and life,” he says. As part of its balancing act, Maya shares up to 20% of quarterly profits with its employees. However, the size of those checks might be up in the air at the moment. Although McManus claims profits are up — he wouldn’t disclose annual revenue — the firm laid off five workers in the first quarter of 2009 and has frozen salaries for the past three months; it’s also considering four-day weeks to avoid more layoffs. All tough decisions – so how should they be handled? “Be incredibly transparent,” McManus advises, “so workers know they can trust you.” Talk back: Tell us how your company motivates its staff.

Source:CNN

NEW YORK (Fortune) — There’s a name for what ails you, and it’s called “luxury guilt.” Even if you can afford to travel, you reason, isn’t it wrong to indulge when times are so tough? Well, if you haven’t been swayed by the open-your-wallet, shorten-the-recession argument, how about this one: You may be missing a rare chance to visit some of the finest hotels on the planet at prices you aren’t likely to see over the next decade. The deals now are better than in the aftermath of the Asian economic crisis, 9/11, or SARS, says Jan Freitag, vice president of Smith Travel Research, making travel to just about any place in the world from 30% to 50% more affordable than last year. One note: If you don’t find these rates on the hotel website, call to book.Beaching itThe general rule here is, go as far as your frequent-flier miles will take you. For example: The Four Seasons Resort Hualalai on the Big Island of Hawaii, where Julia Roberts vacations with her family, is giving 1,000 resort credits good for anything on the property (including room rates) for those staying at least four nights. At the Four Seasons Maui, rooms are starting at a (relatively) affordable 395 per night and include extras like outrigger-canoe excursions and introductory scuba clinics. In Bora Bora, at the St. Regis, an entry-level room used to be 1,300 per night, but now every second night is half price. Bonus: You’re near the lagoon James Michener once called the “most beautiful in the world.” For groups, check out the “second bungalow for half price” package.One other romantic spot worth considering: Sandy Lane in Barbados, where Aristotle Onassis once rowed in from his yacht to frolic alongside Princess Margaret and Frank Sinatra. The resort was completely renovated in 2008 and has numerous packages, with rates ranging from a few hundred to thousands of dollars off typical prices.City escapesRitz spokeswoman Vivian Deuschl says the Ritz has never before offered savings like the ones this summer. Particularly appealing: the Ritz-Carlton Peace of Mind package available at all the Ritz U.S. and Caribbean hotels as well as those in Dublin, Lisbon, Marbella, and Egypt. You get one free night for a three-night stay, two for five nights, and three for seven. Also included: breakfast, kids’ programs, valet parking, and waived resort fees. The savings can be anywhere from the low hundreds to the low thousands.For something more exotic, the Peninsula chain will give you a complimentary second night in a suite at all its hotels around the world (except Beverly Hills). And plain old rate cuts mean that at the newly refurbished Peninsula in Beijing, just steps from Tiananmen Square, a room costs just 431 for two nights.0:00
/1:57Luxury shopping perksDeals abound in other European cities: In Venice, for example, at the spectacular Hotel Gritti Palace built for the Doge in 1525, or at the Hotel Bristol in Vienna, you’ll get a free fourth night, resulting in a minimum 400 savings (other members of Starwood’s Luxury collection have similarly dramatic deals). In London, Claridge’s is debuting a Timeless Weekend summer package; rooms that are regularly 738 drop to 375 Friday through Sunday, including breakfast.Another excellent deal on the higher end is the luxe Mandarin Oriental properties: When you book a suite at any Mandarin in the world for three nights, you get one night free, a free breakfast, and a spa credit that varies by hotel.Family affairsFinally, if you’re traveling with kids, you’ll need plenty of space — and plenty to do. At the famed Connaught in London, a family package includes two double rooms for the price of one (savings of at least 866 per night). Check out the mahogany staircase: Ralph Lauren reportedly loved it so much he built an exact replica in his New York City flagship. For those interested in some history closer to home, at the St. Regis in Washington, D.C., where President Calvin Coolidge cut the ribbon for the hotel’s 1926 opening, rooms typically run 845 per night. This summer they are 495, including continental breakfast, a 50 food credit, and kids’ DVDs.Perhaps the most intriguing deal of all is in the Cayman Islands, where one child per paying adult flies free from any Cayman Airways gateway city — Miami, New York, or Tampa. Nearly every resort, including the Ritz-Carlton and the Grand Cayman Marriott Beach Resort, has a five-nights-for-four option, where kids stay free in rooms with adults.A final option: heading for spots that are out of season. At Little Nell, the ideally situated resort at the base of Aspen, summer rates typically begin at 530; this summer you can choose from an adjoining room for 50% off or a fourth night for the price of three. In India, the Taj Hotels company has priced four nights at one of three spectacular Taj Palace properties and two nights at a Taj hotel in either Mumbai or Delhi — with breakfast, dinner, and discounts on spa — for 2,190 per person based on double occupancy. Given that a single night at a Taj Palace typically runs around 800, if you can brave the high temperatures, those may be the lowest prices you’ll see for some time.

Source:CNN