Planning to save money by staying close to home during your vacation? You may want to reconsider your travel plans.

Hotels and airlines are slashing prices and offering discounted package deals on some popular (and warm) destinations, including Hawaii, Orlando, Fla., and the Caribbean. Even better, some winter deals that would normally expire in March are getting extended well into April or May, says Kelly Pelletier, spokeswoman for Kayak.com, a travel search engine.

Faced with a glut of empty hotel rooms and plane seats, the travel industry can't really afford not to be generous with such offers. The International Air Transport Association reported that the world s major airlines lost up to $8 billion in 2008, far more than the $5 billion it had predicted. And PricewaterhouseCoopers (PwC) projects an 11.2% decrease in hotel-room revenue during 2009, the biggest drop in more than a decade.

The travel industry's grief can be a traveler's gain. To land the best deal, compare prices online and call the hotels in your price range to see if you can talk them down even further on price (or at least get a room upgrade or other perks thrown in). One useful tactic is to compile a list of the prices or other incentives that competitors are offering so you can use it as ammunition while on the phone.

Also, make sure the reservation can either be cancelled or that the rate can be adjusted to reflect the most recent sales rates. Many hotels are dropping prices a few weeks before the booking date, so you may find a more affordable rate the closer you get to your travel date, says Pelletier.

Here are some of the latest deals you can find at five popular destinations.

1. Las Vegas

Lady Luck may finally be on your side. Las Vegas's tourism industry was one of the first cities to get hit by the recession. Now, up to half of the city s hotel rooms are empty, says Pelletier. The vacancies aren't just due to casino-shy consumers hanging onto their cash. During the commercial real estate boom, several new hotels were built on the Strip (or areas surrounding it). Now the city is contending with an even larger number of rooms than it's had in recessions past.

Deals:

Palms Casino Resort: Two weekday nights in a deluxe king room or double and round-trip airfare starting at $192 from Los Angeles, $282 from Chicago and $381 from New York (package rates are per person based on double occupancy). Typically, just the room for two weeknights would cost a total of $218.

Mirage Casino: $99 per night in a deluxe room, plus $50 buffet credit through Dec. 30. (Book between March 8 and June 6.) The regular rate for this room is $228 for two weeknights. That price jumps to $388 for the weekend.

The Venetian: Three nights in a luxury room (the hotel s most basic) and round-trip airfare starting at $239 from Los Angeles and $279 from Chicago or New York. Package includes a $25 credit for drinks. The regular rate for a luxury room: $149 on a weeknight and $189 on weekend nights.

2. Orlando

Disney World (DIS) famously long lines have all but disappeared as parents cut discretionary costs and keep the kids at home, says Pelletier. To get the Mickey-loving masses to return, most Walt Disney World Resort hotels are offering a seven-night package for the price of four nights -- and they re throwing in free admission to a Disney park during the stay. Typically, seven-day admission costs $228 per person (10 years old and older). Also, those who visit Disney World on their birthdays gain free admission. Getting there is cheaper, too. Round-trip airfare from New York, for example, starts at around $179 on Spirit or Jet Blue, according to Kayak.com.

Deals:

Disney s Caribbean Beach Resort: Beginning on April 2, spend $2,500 for a five-night package for a family of four (two parents and two children under the age of 10) that includes a six-day entrance to the Disney park of your choice.

Buena Vista Palace Hotel & Spa: From $99 per night for double occupancy in a resort-view guest room with a resort credit of up to $200. Regular room prices start at $199 per night.

Arnold Palmer Bay Hill Club & Lodge: Located just north of Walt Disney World, this Orlando hotel offers standard rooms starting at $97 a night (double occupancy) -- up to 55% off regular room rates.

3. San Francisco

The almost universally-loved City by the Bay isn't feeling so loved right now. Before the recession hit, San Francisco drew business travelers and pleasure seekers alike -- and plenty of hotels popped up to house them. Now, much like Las Vegas, a large portion of those sparkling new accommodations lie empty, says Pelletier.

Deals:

Radisson Hotel Fisherman s Wharf: Starting at $105 per night for a standard room (15% off original rates).

Cova Hotel (located between the Civic Center and Nob Hill neighborhoods): Starting at $98 per night for a standard room (20% off original price).

4. Hawaii

Say Aloha to warm tropical climates and surfing -- without paying top dollar. Hotels throughout the island state have been lowering prices for the past six months-- and some even throw in free meals and credits, says Pelletier. Just make sure to price airfare first. Few deals include flights, which can be fairly expensive for travelers coming from the East Coast.

Deals:

Aston Aloha Beach Hotel (in Kauai): Starting at $94 per night in a garden-view room and kids eat free. Regular price starts at $120.

Diamond Wailea Resort & Spa (in Maui): Starting at $164 per night, stay three nights in a garden-view suite and get the fourth night free. To get these rates, book by March 31. Regular rates start at $175.

5. The Caribbean

Even though it's peak season, many of the Caribbean's white-sand beaches aren't very crowded, says Scott Berman, principal of hospitality and leisure at PwC. There s no question that their performance is uneven and they re way off of where they were last year, he says. Find the best packages in bigger markets, like Aruba, Jamaica and the Bahamas, where there are direct flights from the U.S.

Deals:

Grand Palladium Jamaica Resort & Spa: Starting at $499 per person, get four nights in a junior suite, round-trip airfare from the U.S. and most meals, beverages and some water sports included. Book by March 9 for travel between April 13 and June 30. The package is 20% off the normal all-inclusive rate, including airfare.

Marriott Renaissance Aruba Resort & Casino: From $245 per night in the Ocean Suites, get every third night free, a $50 casino credit, a $50 cocktail credit and one breakfast in bed. Regular price to stay in Ocean Suite is $626 a night.

Atlantis (Bahamas): Through May 31, stay four nights for the price of three in a Beach Towers terrace room. Total package costs $1,100 (not including taxes) based on Sunday or Monday arrival. At regular rates, you ll pay more than $1,500 (not including taxes) for this entire stay. Children 11 and younger stay for free, and you get a $200 rebate when you book a package with airfare for three nights or more.