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: May 14, 2013

$1.3019 = €1.0

$1.5316 = £1.0

MarketView

America’s dollar treaded water after a multisession winning streak that powered it to five-week highs overall and to its strongest in more than 4 ½ years versus the yen. Mixed data from the euro zone pushed and pulled on the single currency though it was flat at the outset of U.S. trade. The euro initially recovered above recent five-week lows after the strongest industrial production figures in 20 months in March suggested the region might have flirted with growth during the first quarter. But euro buoyancy proved tough to sustain after another survey showed a barely perceptible uptick in optimism among German investors which served as a reminder of the region’s flimsy prospects. Growth numbers from the euro zone come due Wednesday and are expected to show recession persisted in the January to March quarter. The yen caught a breather after days of heavy selling as investors paused to realize profit. Sterling slipped to Apr. 25 lows against the greenback as investors limited ties to the U.K. currency ahead of local jobs data Wednesday, the same day the country’s central bank cuts loose its latest quarterly inflation report. Growth currencies succumbed to commodity market weakness, with the loonie lower and the Aussie dollar plumbing fresh 11-month lows.

For customers traveling in 2012:

"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: 1.1-1.55 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. For the past couple of years, there has been no adjustment either way. Customers renting properties for 2012 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.

Kit Burns, President
Doorways, Ltd.

IMPORTANT LINKS:

Click to view the 2012 Financial Agreement