Diary: Credit crunch forces Mail ski trip into the crevasse

For pure extravagance, no jolly in adland has beaten the legendary Daily Mail annual ski trip to Bad-rutt's Palace Hotel, St Moritz.

The brainchild of the Daily Mail managing director, Guy Zitter, the last-word-in-luxury jaunt is an exercise in proving whatever you can do, Associated Newspapers can do better and topped with Beluga caviar.

The Associated sister title The Mail on Sunday tried to compete with its ski tip to Chalet Septieme Ciel (which translates as Seventh Heaven) in Verbier, Switzerland last year. The chalet is so bling, even David Beckham tried to buy it.

But it still couldn't quite match up to the bespoke St Moritz sojourn, which boasts flowing Krug, helicopter transfers and has been rumoured to cost the Daily Mail a whopping £150,000.

But, as the economy goes down a slippery slope, the mother of all ski trips looks likely to be right behind it. Diary hears that the next Zitter excursion, planned for early 2009, is to be cancelled for a year.

However, the Daily Mail boys say cancelling the trip next year is less to do with belt-tightening and more to do with expanded waistlines. Zitter and the advertising director John Teal say they can't leave the country because they currently weigh in at more than the meat export licence will allow.