While the tidal wave of steeply discounted hotel properties didn't occur to the degree expected, a number of distressed properties still are winding through the system and selling on a one-off basis, said Jan Freitag, senior vice president of STR Global, a lodging research firm.

WSJ: Deal of the Week: Airport Hotel Discount

She then ran to the hotel lobby just before a second wave hit.

CNN: Tsunami tragedy: Your e-mails

My wife is holidaying in Phuket, staying at the Kabina Beach Hotel (now destroyed) when the first wave hit.

CNN: Tsunami tragedy: Your e-mails