The 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.
Market News February 21, 2017 from Western Union
Overnight Indication Range
Currencies Low High
EUR - Euro 1.0571 1.0660
GBP - British Pound 1.2447 1.2530
"The long holiday weekend did the U.S. dollar some good as it returned Tuesday refreshed and near one-week peaks. The dollar firmed toward the stronger end of its range after hawkish remarks from Federal Reserve officials kept the door cracked to an interest rate hike as soon as bankers’ next meeting in mid-March. The heads of the regional Fed banks of Philadelphia and Cleveland saw potential scope for a rate hike next month if data continue to show underlying strength in the world’s biggest economy. The dollar has struggled to sustain gains this year as the Trump administration has been slow to reveal plans to boost growth and markets forecast a U.S. rate hike arriving a bit later in the year. Ahead of tomorrow’s release of all-important minutes from the last Fed meeting, the U.S. dollar rose across the board."
In 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 2017 may be charged a currency adjustment on the unpaid balance, according to the exchange rate, but it is more likely to be in their favor this year. Here's hoping that the dollar continues to strengthen in time for your trip!
Kit Burns, President
Doorways Villa Vacations
For more information on booking, planning and financial agreements, please visit our booking forms page.