The problem with putting up prices by 50% because "we will pay for it" is that nobody realises that we only pay for it till we find somewhere better to holiday. Greece took the mick for years, now it is in trouble you can see that hotel, holiday, beer, car hire prices have had to plummet to get people to go.
The lesson to learn now is the basic sales training principle we all yawned at because it is so bleedin' obvious - that it is far, far easier and cheaper to keep your current customers happy, than it is to go out and find new ones.