Originally Posted by Non-NonRev

I think that luxury properties are loathe to discount their room rates, even temporarily one of the reasons being that it becomes difficult to bring the rates back up to their previous levels once the economic situation improves .

I think that they are more likely to (as noted above) increase offerings of packages, spa and Food/beverage credits, and "get the fourth night free" incentives such as LHW and the Luxury Collection do at times. This can save considerable money - for example, a hotel charging €400 per night will sell a 4-night stay at €1200 instead of €1600, making the effective rate €300 over the entire four-night stay.