Economic Pain Is Traveler's Gain as Cheap Air Fares, Hotel Rates Abound.

Byline: Jiquanda Davis

Aug. 16--The decline in business travel definitely has its perks -- for leisure travelers who want indulge in a bit of luxury.

The slowing economy has left airlines and high-end hotels scrambling to make up for losses of business-travel revenue. Lower-priced hotels, however, are seeing more business travelers.

"(Business) people just aren't spending," said Sarah Wright, vice president of Wright Travel in Seattle. "Business travel is down, as anything in the business world is. You are seeing fare wars because you need to attract leisure travel."

Airlines make less money on leisure travelers, who generally book farther …