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:

$1.2942  = €1.0

$1.5519   = £1.0

US MARKET – 09/03/2010

The U.S. dollar opened largely steady ahead of the release of the latest report on the state of the U.S. labor market. The week’s main event, today’s nonfarm payrolls report, is forecast to show the U.S. economy shed jobs a third straight month in August. A loss of 100,000 U.S. jobs last month is predicted, while the unemployment rate is forecast to rise to 9.6% from 9.5% the month before. If realized, such a large reduction of U.S. payrolls last month might dissuade investors from placing bets in risky currencies, a scenario that could limit the dollar’s downside. Still, the buck may take its cue today from how Wall Street reacts to the employment figures, with a negative reaction seen spurring demand for safety in currencies like the dollar, yen and Swiss franc. The British pound lost broad ground earlier Friday as disappointing service sector data increased the risk of the U.K. economy slipping back into recession. Britain relies heavily on its service sector which accounts for about three quarters of U.K. economic activity. The euro firmed modestly on the dollar, drawing support from data showing its service sector unexpectedly grew in August. The Canadian dollar started out slightly softer on the greenback as caution ahead of this morning’s U.S. jobs data kept risk sentiment subdued. In addition to this morning’s U.S. employment report, investors will also study a report on the U.S. service sector before beginning their long holiday weekend with U.S. markets closed Monday for Labor Day.

For customers traveling in 2010:

"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