Dear Guest,

The shifts in exchange rates affect you as a Doorways customer because you are traveling to Europe. It also can hit Doorways hard 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.

According to Ruesch, International today:

$1.3731  = €1.0

$1.5668   = £1.0

US MARKET - 02/08/2010 08:29 AM

 

The U.S. dollar pared some of its recent gains as generally improved risk appetite prompted investors to buy back many currencies that were beaten down against the resurgent greenback. Profit taking encouraged investors to take some money off of the table, but is unlikely to alter recent trends in a meaningful way. The euro trimmed recent losses but remained near a seven-month trough against the greenback. The single currency drew little support from reassurances by G7 finance ministers in Canada that strict budget reform in Greece would be carried out. Sovereign credit worries continue to undermine the euro, with investors growing increasingly worried about the fiscal health of Greece, Spain and Portugal. A relatively light economic schedule this week will see investors continue to focus on credit risk in the euro zone and general uncertainty about the global growth story amid a backdrop of monetary tightening in China. Canadian housing starts for January are due out later this morning

For people booking for 2010, at this writing there is no currency adjusment.

"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: 1.0-1.5 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 actual transfer."

In 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. Customers renting properties for 2010 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 continues to strengthen.

Kit Burns, President
Doorways, Ltd.

IMPORTANT LINKS:

Click to view the 2010 Financial Agreement