Destinations in Europe have not fared as poorly as some places in the US during the tourism industry’s two-year doldrums. Tourists have continued to visit popular continental cities like Paris and Rome. However, other European cities have fared much worse, forcing hotels to lower their prices. The summer high season, when most tourists travel to Europe from North America, is now past. Prices for hotels, airfare, and packages are down more than usual this fall: as much as 30%. In addition, the US Dollar is currently worth more – compared to the Euro and British Pound – than it has been in several years. This means that Americans can finally take advantage of a favorable rate of exchange.

Hotels in Amsterdam and London are, according to the New York Times, struggling to fill rooms and trying to undercut the competitions’ prices. As a result, deals like Concorde Hotels and Resorts $120 per night offer, are easy to come by. (Concorde runs more than 20 upscale hotels across Europe).

Just how low have prices gotten? When compared to last fall, this season’s hotel and airfare packages are more than 30% cheaper in Amsterdam. Even Rome, which has fared better than most European cities during the past two years of tourism industry woes, has seen a 17% drop in package prices compared to October 2008.

American Express, in conjunction with dozens of upscale boutique hotels in Europe, is offering free nights for its cardholders. Their promotion, featuring the boutique luxury hotels of the world, offers travelers who pay with their Amex a free night when they book at least two nights at qualifying hotels. More info here.

Some of the finest hotels in Paris are trying to woo tourists with similar incentives. The Waldorf Arc de Triomphe is offering a fourth night free for visitors who book during the low season.

Would-be Europe visitors can compare the package deals on sites like Orbitz and Travelocity using the comparison tools at LowFares.com.

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