The Currency Conundrum
It cannot have gone unnoticed that the Pound which bought around 1.48 Euro during May 2007, now buys less than 1.24 Euro - a devaluation of some 16%.
As we sell holidays in sterling, and buy the ingredients in Euro there is a problem!
What to do?
The larger tour operators will make a currency surcharge of up to 10% of the total holiday cost. By the small print of their Terms, they are entitled to levy this charge even after you have paid your holiday in full, and up to 30 days prior to your departure & you will have no right of cancellation when they apply for it.
The smaller tour operators will add a hefty increase to last years rates to help them find their extra costs.
We are mindful that the current currency climate will not prevail, we trust the British Pound is likely to improve sooner or later.
With this in mind we have introduced a nominal currency surcharge which is both fixed in value, only payable if the Pound does not partly recover.
Depending on the exchange rate on Travelex (http://www.travelex.co.uk) on the day your stay with us starts, we will ask you to pay a supplement in the resort of:
- 6€ p/p per night if Sterling is below 1.15€ to £1
- 3€ p/p per night if Sterling is between 1.15€ & 1.35€ to £1
- Not applicable if Sterling is above 1.35€ to £1
By adding a potential charge in this way, we incur no collection charges, & we have kept our price increase for 2009-10 below French, Italian & indeed UK inflation rates.
We trust you will find this solution to be fair & we have added it to our Terms & Conditions. The currency surcharge will apply to all departures after 25th Sept 08.