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 July 28 2016
Exchange rate predicted range $1.1092-1.1163= €1.00
A central-bank-beset U.S. dollar flirted with two-week lows Thursday. The Federal Reserve’s more upbeat statement this week failed to light a fire under the dollar as officials remained mum on when they would raise borrowing rates for the second time since December. The Fed’s statement indicated that short-run risks to growth had diminished, seemingly paving the way for a rate hike by year-end. The Fed appears to have diluted its rate hike messaging, seemingly not wanting to unleash another bout of economy-squeezing strength in the dollar. Moreover, with the Fed meeting out of the way, market attention has zeroed in on Japan whose central bank is widely expected to deliver stronger stimulus tomorrow. But the yen held firm on the eve of the Bank of Japan amid skepticism any new policy steps would be potent enough to materially weaken the Japanese currency.
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 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!
Kit Burns, President
Doorways Villa Vacations
For more information on booking, planning and financial agreements, please visit our booking forms page.