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SITU rolls out long-lead prices for serviced apartments

Its new service will allow the company to eliminate currency risk in its booking process.

Global apartment provider, SITU, has detailed its new service to allow customers to lock in long-lead prices on overseas serviced apartments.

Designed to give clients certainty on long-lead prices, PAs, multi-national insurers, travel management companies and more will be able to budget with confidence.

Provided by foreign exchange specialist, Frontierpay, the service will allow the firm to eliminate currency risk in its booking process through the use of hedging.

This will allow SITU to purchase currency that will be needed in the future at the current rate of exchange, which will help to avoid currency depreciates, for example if the strength of the pound falls.

The deal with Frontierpay also gives SITU access to a variety of currencies, as well as more competitive exchange rates, as it leases and maintains a growing number of properties around the world.

“Our business requires us to work with customers from all around the world, which means we are dealing with a vast range of currencies on a daily basis,” said Phil Stapleton, MD of SITU.

“By working with Frontierpay, we open up a wide range of possibilities in previously unexplored territories, enabling us to offer an expanded international offer to our customers.”