October Airport Rental Rates Continue Downward Trend

With the help of Jim Tennant of The Tennant Group and Michael Meyer of Rate-Highway, Inc., we are conducting rate surveys on a weekly basis and providing analysis and comments where appropriate. We publish this monthly recap in our electronic edition and more comprehensive looks in the print editions.

The flattening of rate quotes continued into October, down $1.04 (2.2%) from the same month in 2013. Other than a spike in July, largely due to the recall and resultant grounding of a significant portion of the industry’s fleet, we have seen essentially flat rate quotes since June.

May was down $4.70, but there were significant increases in 22 of the previous 24 months ending in April.

The Northeast region continues to have the highest average quote, but the Midwest is a close second. San Diego is again the lowest of the 50 airports for both October ($23.87) and the preceding 52 weeks ($28.06).

For the highest airport rates, Fort Myers’ Southwest Florida International Airport (RSW) took first place from Reagan International (DCA) with $68.93 in October, but Reagan continued to be highest at $84.46 for the preceding 52 weeks.

Rate data provided by Rate-Highway, a leading provider of revenue management services for the auto rental industry. Rates are an average of aggregator/OTA rates for all vendors present in the markets listed on the date of the survey. These tables and graph show the average of all base rate quotes per day for an ICAR at the six or 50 airports shown, for arrivals 15 to 21 days ahead of the date of the survey, for two- and seven-day rentals.
Rate data provided by Rate-Highway, a leading provider of revenue management services for the auto rental industry. Rates are an average of aggregator/OTA rates for all vendors present in the markets listed on the date of the survey. These tables and graph show the average of all base rate quotes per day for an ICAR at the six or 50 airports shown, for arrivals 15 to 21 days ahead of the date of the survey, for two- and seven-day rentals.

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