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 24, 2017 from Western Union
Overnight Indication Range
Currencies Low High
EUR - Euro 1.0611 1.0660
GBP - British Pound 1.2573 1.2621
"A fragile U.S. dollar Friday was on track to snap a two-week winning streak on tempered expectations for higher American interest rates and economy-boosting stimulus from Washington. The dollar slipped to one- week lows on a trade-weighted basis and to its weakest in two against the U.K. pound. While this week’s release of the intimate details of the last Federal Reserve meeting hinted at a rate hike ‘fairly soon,’ the mixed tone of the minutes seemed more consistent with a rate hike over the first half of the year rather than the first quarter. A contributing factor to the dollar’s clammy hand on gains were remarks from America’s new Treasury secretary, Steven Mnuchin, who signaled that a much-anticipated tax overhaul would likely arrive around the latter part of the summer which disappointed some dollar bulls. U.S. data today on consumer sentiment and new home sales should help determine whether the buck logs its first down week in three."
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.