Global travel slowdown means lots of deals

(CNN) — Coronavirus has no doubt put the travel industry into a tailspin.

Airlines alone could lose $113 billion in sales if the virus continues to spread, according to the International Air Transport Association.

Hotels, too -- both big brands like Marriott International and Hyatt Hotels as well as small family-run properties -- are hurting as reserved guests cancel their stays for fear of traveling and don't rebook.

Henry Harteveldt, a travel industry analyst and the founder of Atmosphere Research Group, estimates that hotels could lose more than $30 billion worldwide because of coronavirus.

But while the outbreak's trajectory has been speedy, there is a windfall for travelers: substantially reduced airfares and free extras at hotels and from tour operators that are worth hundreds of dollars -- even during the upcoming peak summer travel season.