Yes, there are still travel deals out there but be warned that there are hidden charges all over the place! Expect to pay extra for EVERYTHING like checking luggage. Also, fights can be cancelled on these airlines so you will need to be a bit flexible if you go this route. The benefit is that the airfare can be VERY low, like $5 per flight! I didn’t believe it either but they seem to be making it work somehow.
It is NOT full service and you have to book on-line but if you do it, you can save.
Also, these sites do offer hotels which run cheap to expensive.
In Asia, check out http://www.airasia.com
In Europe, check out http://www.ryanair.com
Just for fun, check this out http://www.hostelworld.com/