angevin Posted January 17, 2008 Share Posted January 17, 2008 Our gites are priced in sterling and we also get quite a few bookings from outside Europe for which we use Paypal.The problem now is that, with the pound in virtual freefall against the Euro a conversion from pounds to euros means that we are now taking a loss on each transaction. The answer is obviously to price in euros and not pounds but that is not possible for this year as the publicity has already been done. Does anyone have any bright ideas how to get round this without seeming unfair to our guests who are obviously expecting to pay the stated sterling price. à plus Angevin Link to comment Share on other sites More sharing options...
Iceni Posted January 17, 2008 Share Posted January 17, 2008 If you are truly making a loss on each transaction then the sooner you sell up the better. I suggest that you are merely making a smaller profit than you anticipated.Surely the prices in yr pub. are an "invitation to treat" and do not constitute an offer in which case you can do what you like with yr prices.Johnnot Link to comment Share on other sites More sharing options...
Albert the InfoGipsy Posted January 17, 2008 Share Posted January 17, 2008 Can't think how to get more money out of your guests, but if you can afford to leave the money in sterling in a decent UK savings account you could try waiting for the exchange rate to recover -- but that's a whole separate topic.Out of interest, how do your guests pay for their hols? Cash? GBP Cheque? Plastic? Link to comment Share on other sites More sharing options...
nimportequoi Posted January 18, 2008 Share Posted January 18, 2008 You can't change the price for the people who have already booked, but you could just advertise the price in euros from now on. I'm going to do this, as all my advertising is done on the internet listing sites and my personal website it is easy to change the prices for the remaining weeks. Most of customers pay by sterling or euro cheques, the only time I ever use Paypal is for customers outside of these currencies and I only use my French Paypal account at the moment to get the euro equivalent rather than sterling. Link to comment Share on other sites More sharing options...
angevin Posted January 18, 2008 Author Share Posted January 18, 2008 Thanks for all your responses. Of course I did not mean that our profit margin is so small that the fact that the pound is now worth about 11 cents less than it was wipes it all out! I might be mad but I am not stupid!! I meant simply that each currency transation from pounds to Euros returns much less than it did and over a year this can add up to the equivelent of giving each rental around a 10% discount. I am sure that I can not be the only Gite Owner who is aware of this. We use UK internet banking, cheques and Paypal for those from outside the EU. Anyway, your responses have given me a few ideas.Merci bien Angevin Link to comment Share on other sites More sharing options...
Le_Jars Posted January 20, 2008 Share Posted January 20, 2008 If you have a website, do what we've just done and put a currency converter on it rather than a fixed sterling cost. We only quote in euros now, if they want to find the current value in pounds, they can use the converter. Link to comment Share on other sites More sharing options...
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