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 protected 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.
Overnight indication range:
$1.1338 -1.1409= €1.0
$1.5101 -1.5156 = £1.0
Market News - 1/30/2015
America’s buck got off to a sluggish start Friday on caution ahead of key U.S. data on fourth quarter growth, Midwest manufacturing and consumer sentiment. The dollar has largely spent the final week of the month consolidating another winning month, on pace to be its seventh straight, which has caused it to edge slightly away from 11-year highs overall. On the week, the dollar is set for robust gains against rivals from Switzerland, Canada and Australia, but on pace to lose ground to the euro and sterling. The Federal Reserve’s data-determined outlook for interest rate hikes shines a bright spotlight on the first look at how the world’s top economy fared in the final three months of 2014. Global economic headwinds likely caused the economy to slow to a still solid 3% annual rate last quarter from the blistering pace of 5% in the third quarter. The euro largely took in stride another grim inflation report from the euro zone that showed prices plunged 0.6% in January, which matched a record. The bloc’s weakened economy shows the ECB’s big trillion euro stimulus program can’t start soon enough. The loonie neared six-year lows ahead of a key growth report from Canada that could add to its bearishness.
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 refunds 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 recent years, there has been no adjustment up or down. Customers renting properties for 2015 may be charged a currency adjustment
on the unpaid balance, according to the exchange rate, but it more likely to be in their favor this year. Here's hoping that the dollar continues to strengthen in time for your trip!
Doorways Villa Vacations
to view the 2015 Financial Agreement