Despite the strength of the euro, British bargain hunters are heading to the snow-covered mountains of Europe to enjoy the best start to a skiing season for more than 20 years.

Record snowfalls and an oversupply of accommodation caused by the credit crunch have prompted a last-minute rush to snap up savings worth hundreds of pounds.

Iglu.com, the largest ski holiday retailer in Britain, is offering luxury chalet holidays with discounts of up to £360 per person. It also has budget family deals for as little as £229 a head.

Simone Clark, the company's sales and marketing director, said: “We have been bombarded by people looking for last-minute trips. They're not necessarily looking for really cheap, but good value. It is driven by the conditions. Two seasons ago, when the snow was poor, we had holidays for £99 and no one wanted them.”

Skiers say that these are the best European conditions for a generation, with the deepest snow to be found in the Swiss resorts of Saas-Fee and Andermatt, where the base is more than 3½m (11ft) thick.

Graeme Spratley, publisher of Snow magazine, said: “I have friends in Sauze d'Oulx in Italy who say it usually looks like Basingstoke in December but this year it's thick with snow. If you've got the money, it's a great year. There is no shortage of bargains.”

The “deal of the day” yesterday with Inghams, the largest independent ski tour operator, was seven nights in late February in Borovets, Bulgaria, for £199 per person including half-board.

Lynsey Devon, the company's public relations manager, said: “It's one of the best-value seasons you're ever going to see because the snow is phenomenal everywhere. On Boxing Day, the phones just went nuts. People thought, "Things are not as bad as we thought, we still have jobs, so let's see what's out there.'”

After an initially slow start as consumers held back because of the recession, agents offering all-inclusive chalet holidays now have the edge, industry watchers say. The weakness of the pound has made self-catering less attractive and many have turned to tour operators who buy their currency a year in advance and fixed their prices months ago.

Al Morgan, information manager for the Ski Club of Great Britain, said: “If you're willing to leave it late and are pretty free to go anywhere, there are great deals. I got away this month for £150 on a week's half-board.”

The recession has yet to hit the very top of the market, however. The Lodge, Richard Branson's exclusive retreat in the Swiss resort of Verbier, is fully booked until the last week of the season in April. The 18-strong group heading out this weekend are paying £2,417 per person for seven nights including gourmet food prepared by chefs trained by Raymond Blanc, champagne in the hot tub and a warm reception from Bam Bam, the in-chalet dog.

Last-minute snips

Prices per person, for 7 nights:

St Anton 4-star catered chalet, Jan 18, £477 (was £659)

La Plagne luxury catered chalet, Jan 11, £529 (was £819)

Val d'Isère Club Hotel, Feb 22, £517 (was £659)

Zermatt luxury catered chalet, Jan 11, £599 (was £1,059)

Obergurgl 4-star catered chalet, Jan 25, £517 (was £639)

Verbier catered chalet, Jan 25, £536 (was £698)

Andorra 4-star hotel, half-board, Jan 18, £431 plus 2-for1 lift passes