The Turkish Lira is down 20% today. Given that many hotels quote prices in EUR there are no immediate savings, unlike what would be the case in other countries if a similar situation happened and where hotels charge in the local currency.

Is there anybody familiar with the Turkish hotel market who has some vague idea of how quickly/slowly the currency movement can make its way to hotel prices? I realize that different hotels will react differently so there is probably no single good answer, but I am just curious to hear about past experiences given that the TRL had hiccups not that long ago so some of you might remember what happened.