shifts in exchange rates affect you because you are traveling
to Europe and the shifts also affect Doorways because we collect payment from you in
dollars and in most cases pay owners in Euro. To protect our company from losses
due to fluctuating currency, we set a range when establishing our prices for the
year. If the dollar strengthens outside this range, we give money back to you,
and if the dollar weakens, we have to collect additional funds. In most cases, though, the dollar stays within the safe range and then your price does not change.
$1.2667 = €1.0
$1.6199 = £1.0
US MARKET - 10/30/2014 08:00 AM
A rejuvenated greenback rose to three-week highs against a wide swath of rivals, buoyed by the Federal Reserve’s ending of a key stimulus program. After this month, the Fed no longer will buy bonds to support an economy that has made “substantial improvement” since the program’s inception. The Fed also voiced optimism in the underlying shape of the U.S. economy which caused U.S. Treasury yields and the dollar to move higher. The Fed’s fairly upbeat statement helped solidify expectations for a rate hike next year, reopening the door to an earlier move around the middle of 2015. Though broadly stronger, the greenback faces a test this morning in the initial estimate of U.S. growth for the third quarter. Forecasts call for a respectable 3.0% annualized pace of growth in the July-September period. A print below forecast could see the dollar surrender some gains while a reading above 3.0% would tend to intensify the dollar’s fresh tailwind. The euro was on a vulnerable footing on the eve of crucial euro zone numbers on inflation and unemployment. Sterling steadied after hitting two-week lows below $1.60. The loonie eased off multiweek highs. U.S. weekly jobless claims are also due out today.
For customers traveling in 2015: "Prices
are subject to shifts in currency exchange rates and will be adjusted up or down
at the time of payment only if the rate falls outside of the ranges: 1.0-1.4 dollar/Euro
or 1.4-2.0 dollar/£. When adjustments are necessary, we will use the currency
we use to pay the owner and calculate it from the exchange rate received on the
2000 and in 2001 Doorways gave a refund to guests after they paid their
final bill. Everyone was very happy then! For the beginning of 2008, we had to collect extra money but for the past couple of years, there has been no adjustment either way. Customers renting properties for 2015 for which the owners are paid in Euros may be charged a currency adjustment
on the unpaid balance, according to the value of the dollar versus the Euro at
the time of the final bill; the adjustment could be up or down. Should you want to protect yourself against decline of the dollar,
you can pay your final bill early or be sure to book a villa with a guaranteed
US dollar rate.We are
infinitely grateful for your cooperation. And here's hoping that the dollar strengthens in time for your trip!
Doorways Villa Vacations
to view the 2015 Financial Agreement