Pound Hits One Year High Against Euro
Sunday, May 30th, 2010
The pound has hit its highest rate for a year against the Euro, passing the 1.18 Euros to the pound mark on inter-bank exchange rates for the first time since June last year.
The trend of a strengthening pound is seen as good news for British skiers who were hit hard by an exchange rate which – after commercial exchange rates and commissions were applied – was often at best 1 Euro to the pound last winter.
Ski resorts are beginning to announce lift ticket prices for winter 2010-11 and initial signs are good with resorts holding prices at last season’s rates, or only making marginal increases. In both cases a strengthening pound should make these prices actually less when converted to sterling than for 2009-10.
Many resorts also offer the option to advance purchase lift tickets on line, often at a discount, enabling British buyers to purchase early while the pound is strong if they fear it may dip again towards the winter.
For ski holidays to the US the picture is less rosy with investors switching from the Euro to the US Dollar making it stronger than ever, and currently valued at about a third more than at the pound’s height against the US dollar three years ago.
Most holiday companies are currently offering substantial early booking discounts on winter 2010-11 ski holidays.
August 23rd, 2010 at 10:23 am
Interesting article, however current facts appear directly opposed to your comments.
The pound – Euro exchange rate has increased to circa 1.20 from 1:1 or less
Most of the major operators have increased prices not frozen them or reduced.
It appears that both the tour and hotel operators are taking advantage and not offering discounts.