Working with the euro
– Tourism Update
Goetre Isaf
LOCATION SECTOR
Bangor, Gwynedd Tourism: bed and breakfast accommodation
EMPLOYEES none TURNOVER EXPORT MARKETS
n/a Visitors from 69 countries, including Europe “For Goetre Isaf, the key issues raised by the euro are:
• capitalising on our inclusion in a leading
French holiday guide; and
• making it as effortless as possible for
European guests to pay.”
Making life simple for guests
“Our preparations for the euro were designed with one end in mind – to make life easier for our guests from the euro area countries. We are lucky enough to be featured in the biggest selling guide in France, Le Guide du Routard, as well as being agents for Brittany Ferries. We have already had enquiries and bookings from both France and Belgium based on the fact that we accept euro in cash or by cheque. All our prices, both in our advertising and on our website, are now expressed in euro and sterling. Our preparations to accept euro have definitely proved worthwhile if only as an example to other small tourism-related businesses with customers from abroad. Our policy is simply to carry on accepting euro and, for that matter, any other currency that our guests want to use.” “Apart from our superb setting, our willingness to accept euro is seen as another positive aspect of the experience we offer.”
Bed & breakfast with the euro
Goetre Isaf farmhouse near Snowdonia is operated by Fred Whowell and his wife as a small bed and breakfast business. Fred Whowell explains that when the euro first came in, they decided to accept euro travellers’ cheques. “Since January 1st 2002, we have gone further still by having euro notes and coins available to give change.”
HM Treasury
Marcliffe at Pitfodels Hotel
LOCATION SECTOR
Aberdeen Tourism
EMPLOYEES 170 TURNOVER EXPORT MARKETS
£4 million Visitors from Europe, USA and Far East
Making payment easy
“We have opened a euro account and have been receiving payments in euro for over a year now and can give our guests change in euro. We also quote our room rates in euro over the phone. This is part of our strategy to make payment as easy for the customer as possible. The next stage will be to install software that will allow us to offer guests their printed bills directly in euro. It is also likely that we will be showing prices in euro in our brochure and on our website in the near future. We have also arranged a euro chequebook so that we are ready to buy supplies in the new currency if necessary.”
Taking a euro break in Scotland
The 40-room Marcliffe Hotel, on the outskirts of Aberdeen at Pitfodels, welcomes increasing numbers of guests from mainland Europe who come to Scotland for short breaks or golfing holidays. To assist them, the hotel has geared up to accept payment in euro. Accountant Alan Jappy explains that: “For Marcliffe, the key issues raised by the euro are:
A wake-up call
“The message to other tourism-related businesses which are not yet able to accept euro, is not to bury your head in the sand. You should see the euro in the same terms as sterling, so you can take full advantage of a market of 300 million people on your doorstep.” “Being ready to trade in the euro is a natural progression in our drive to offer a high quality service to our guests.”
• continuing the process of pricing and
charging in euro; and
• preparing to buy goods in euro at a
future date.”
Morris Brothers
LOCATION SECTOR
Tenby, Pembrokeshire Retail: hardware shops
EMPLOYEES 24 (in summer) TURNOVER EXPORT MARKETS
£1.1 million Customers from most European countries
The euro as an everyday currency
“Among our holiday customers are many visitors from mainland Europe passing through Tenby en route to the Republic of Ireland. To capitalise on this market, Morris Brothers has made a point of actively welcoming the euro as an everyday currency and there are signs displayed in our stores giving the latest conversion rate. It is still early days, but we have already taken in euro, mostly from local customers who have been to Ireland and have returned with spare euro notes. We also have several items ticketed in euro, such as waxed jackets, which are popular with the French. We offer customers a more competitive conversion rate than they would get if they had changed their euro at the bank and paid for their purchases in sterling. For the time being, all our euro transactions are in cash. We would, however, eventually like to take euro by credit card.” “If you trade in an area popular with tourists from Europe, it makes sense to be ready to accept euro.”
Making the most of European trade
Morris Brothers is the trading name for two hardware shops in Tenby which stock over 11,000 lines, including camping equipment and leisure wear. According to owner, Howard Lewis, 50% of their annual turnover comes from the 12 week summer season. “For Morris Brothers, the key euro issues are:
• taking full advantage of the summer influx of
European visitors; and
• promoting Pembrokeshire’s positive approach
to accepting euro.”
Further information
For further case studies, factsheets and other information about the euro, contact HM Treasury’s Euro Information Line on 08456 01 01 99 (calls charged at local rate) or visit the website: www.euro.gov.uk (the original case studies can also be found on this website). For contacts at local level, please see the Small Business Service website (www.businesslink.org) or contact Business Links on 0845 600 9 006.
Publication date: July 2002