VingCard Elsafe Adjusts Pricing to Accommodate Declining USD
Continued U.S. and Canadian dollar (USD/CAD) depreciation against the European Euro (EUR), Chinese Renmibi (RMB) and other major currencies supports a 10 percent price correction in USD/CAD markets
The rising cost of raw materials and transportation, coupled with the continued decline in the value of the U.S. and Canadian dollar (USD/CAD) versus the EURO (EUR), China Renminbi (RMB) and other major world currencies, has resulted in the need for companies to make price adjustments to help restore balance in light of the current economic environment.
DALLAS | The rising cost of raw materials and transportation, coupled with the continued decline in the value of the U.S. and Canadian dollar (USD/CAD) versus the EURO (EUR), China Renminbi (RMB) and other major world currencies, has resulted in the need for companies to make price adjustments to help restore balance in light of the current economic environment. VingCard Elsafe, the leading provider of electronic locks and in-room safes for the global hospitality industry, today announced a 10 percent price increase on all electronic lock and in-room safe products. The price increase will take effect prior to June 1.
“We absorbed most of the impact of the currency movements over the past 18 months to support the long-term growth of our customers and help them stay financially healthy, physically secure, and solidly positioned in their respective markets,” said Marc Freundlich, president of ASSA ABLOY Hospitality North America. “However, after further decline of the dollar this year to date, we must move to stabilize our costs to better reflect these developments. “The economic environment may be changing, but VingCard Elsafe will remain the same reliable, secure and quality-driven manufacturer of security solutions that we are known for around the world,” he said.
The world leader in hotel security technology, ASSA ABLOY Hospitality has products installed in more than 35,000 properties worldwide, securing in excess of 6 million hotel rooms. The ASSA ABLOY Group, a publicly listed company, is a world leader in security and hospitality systems. VingCard provides numerous electronic locking system solutions, including traditional magnetic-strip, smartcard systems and the latest RFID electronic locks compatible with the main ISO standards: ISO 14.443A (MIFARE), ISO 14.443B, ISO15.693 and NFC-compatible (Near Field Communication), fully integrated PMS interface software solutions and worldwide service and support. Elsafe provides the only UL-listed (1037) hotel safe series on the market today in keypad and card-based models. Safes that include an internal power outlet to support recharging of laptops and camcorders also are available with a UL listing. Elsafe customers also enjoy the same worldwide service and support. The ASSA ABLOY Hospitality Group is dedicated to the hospitality industry. For more information on VingCard Elsafe, visit