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VingCard Elsafe Adjusts Pricing to Accommodate Declining USD
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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
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DALLAS — APRIL 17, 2008 — 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. 
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USD to EUR exchange rate
USD to RMB exchange rate
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About VingCard Elsafe
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 www.vingcard.com or www.elsafe.com.
 
Europe / Middle East / Africa:
E-mail: emea@vcegroup.com
Phone: +47 69 24 50 00
ASIA / Pacific:
E-mail: aspac@vcegroup.com
Phone: +65 6305 7670
North America:
E-mail: noram@vcegroup.com
Phone: +1 972 907 2273
Latin America:
E-mail: lam@vcegroup.com
Phone: +52 55 36 40 12 14

 

 
Contact:

Riise Walker
Marketing Supervisor 
VingCard Elsafe
Tel: +1 (972) 692-3167
rwalker@vcegroup.com
 

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Also See: Timelox 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 / April 2008
VingCard® Partners with SARGENT®, Yale® and Corbin Russwin® To Offer New Security Solutions for Hotels and Resorts; Industry Leaders Join Forces to Provide Door Hardware Continuity for Hospitality Properties / November 2007
VingCard® to Secure Newly Renovated Plaza Hotel in New York; Contactless Signature RFID Electronic Locks Installed at Legendary Central Park Property / November 2007
Delta Chelsea Hotel Enlists TimeLox® to Install Wireless Electronic Locking System; Canada’s Largest Hotel to Utilize New TimeLox Wireless DC-ONLINE System / November 2007
VingCard® to Secure Baha Mar Resort Hotels on Nassau's Cable Beach; Hotel Security Leader will Install Electronic Locks at New Development in the Bahamas / October 2007
VingCard® Receives Two Prestigious ADEX Awards for Innovation; Industry Professionals Recognize VingCard Products With Platinum and Gold Awards for Design Excellence / June 2007
TimeLox Reports Bull Market Affecting Brass Production, Pricing / December 2006
Signature Unlocks Canadian Market with Installations in Two Luxury Properties; Alberta and British Columbia hotels choose new Signature by VingCard electronic-locking system to enhance decor, ensure security / October 2006
NEW Signature by VingCard Door Locks Selected by Kauai Beach Hotel and Resort / May 2006
Rezidor SAS Names VingCard Elsafe a Preferred Security Partner for Providing Electronic Locks and In-Room Safes / April 2006
Casinos, Resorts, Timeshares and Condo Hotels Tap TimeLox for Online Security / March 2006
ASSA ABLOY Hospitality, Inc. Strengthens Global Security Positioning With Marc Freundlich Leading the Way / February 2006
Signature by VingCard Offers Attractive Security Options, Hoteliers Say; California-based Tarsadia Hotels is first to ‘design their security’ with new Signature Series electronic-locking solution / December 2005
VingCard ‘Signature’ and Elsafe Chosen Preferred Security Solutions for Courtyard by Marriott in Europe / December 2005
VingCard Elsafe Providing Emergency Support to Hotels Hit By Hurricanes Katrina and Rita / September 2005
Pascal Metivier Appointed President of Assa Abloy Hospitality for Europe, Middle East, Africa and Latin America / June 2005
Elsafe Providing a ‘Safe’ Environment for Business Travelers and HSIA Users / June 2005
When Security Counts . . . Count On VingCard to Upgrade Your Electronic-Locking System / June 2005
Elsafe Selected by Accor as its Sole Approved Provider of In-Room Safes / April 2005
Elsafe Asks: Are Your In-Room Safes REALLY Safe? / November 2004
Ken Brown Joins VingCard Elsafe As SVP Marketing and Sales, North America / November 2004
Four Cornerstones Ensure Sound Principles and Fair Business Practices For ASSA ABLOY Hospitality Brands (Elsafe, Timelox, VingCard and INHOVA) / May 2003
Elsafe Renews Global Agreement with Starwood Hotels & Resorts to Supply In-Room Safes / March 2003
Crowne Plaza Times Square Manhattan Upgrades to VingCard Locking System to Enhance Guest Security and Convenience / March 2003
Elsafe Selected to Provide In-room Safes to Accor Hotels Worldwide / Dec 2002


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