Serviced apartment provider Situ has launched a service enabling clients to lock in advance prices when booking apartments overseas.
Through a partnership with foreign exchange specialist Frontierpay, the service eliminates the risk of losing out on poor exchange rates during the booking process, allowing Situ to purchase currency that will be needed in the future at the current rate of exchange.
Managing director of Situ, Phil Stapleton, said:
“We will quote a price in June, but that could be subject to fluctuations in the exchange rate in the interim period. While we’d always look to absorb this cost, there comes a point where that has to be passed on. By working with Frontierpay to lock in the exchange rate in advance, that risk is removed. This means customers are no longer affected by exchange rate fluctuations, guaranteeing that the price they are quoted is the price they get.”
Established in 2008, Situ operates some 36,000 serviced apartments worldwide, specialising in stays of three nights or longer.