Luxury travel less affected by poor economy

Wealthy Americans aren't ready yet to give up on their vacation plans, even though consumer confidence is at a 16-year low. By David Sharp, Associated Press Writer PORTLAND, Maine — High gas prices may mean fewer families will be headed to the beach or the mountains this summer, but rising prices likely won't be keeping wealthy people from missing out on vacation. Although their stock portfolios may be in decline, wealthy Americans who are less likely to feel the impact of a slowing economy and rising energy and food prices are largely going ahead with their vacation plans even though consumer confidence is at a 16-year low. Households earning $100,000 or more have been taking a larger share of hotel rooms since 2000 and now account for about a third of hotel stays, according to D.K. Shifflet & Associates in McLean, Va. "If... [read full story]