November 17, 1999
Web posted at: 4:10 p.m. EST (2110 GMT)

(CNN) -- Still trying to decide how to ring in the New Year? Only two of every 20 tour operators say they're completely booked for the holiday, according to the U.S. Tour Operators' Association. While that's bad news for the industry, it's good news for travelers looking for bargains.

If you've been holding out for cheaper prices on New Year's weekend trips, now's the time to book. This month, many hotels, cruise lines and resorts are discounting rooms and packages that haven't sold yet.

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Rates in New York, Las Vegas, Chicago, Orlando, Miami and other cities have come down substantially, according to Robert Diener, president of the Hotel Reservations Network.

"Orlando is probably the best bargain," he says. "If you go to the Internet, you can find a good variety of deals ranging from about $120 to $200 a night."

Walt Disney World is even opening rooms. The resort's 17 hotels have been sold out for months, but Disney says some travelers are canceling because they have to work during the transition from 1999 to 2000.

Cruise lines are also discounting cabins. Lines that say they still have vacancies include Carnival, Cunard, Costa, Celebrity, Holland America and Royal Caribbean. Princess officials say they have fairly solid New Year bookings, with six of the company's nine ships sold out.

Many airlines are cutting flights. Most say weak demand, not Y2K bug concerns, are prompting the decision. Air France, Cathay Pacific, Singapore Airlines and Japan Airlines are among those that have scuttled some New Year's Eve and New Year's Day flights.

Ansett Australia has just been added to the list of airlines that won't fly at all on December 31. Virgin Airlines was one of the first to say it won't fly during the holiday.

"The only reason we're not flying on New Year's Eve is that we think New Year's Eve is a time for our staff to have a party," says Richard Branson, chairman of Virgin.

While prices already are dropping, those who aren't afraid of waiting a little longer might get even better deals to ring in the New Year.

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