February Airport Rates Down in Every Region

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.

February 2017 continued the down trend of prices that we have seen since December. February’s average nationwide quote was down $4.49 from last February after decreases of $1.02 in December and $3.87 in January.

All regions were down, with the Northwest down $10.92 from its high average a year ago.

Of the top 50 airports surveyed, Raleigh-Durham International Airport (RDU) had the lowest average quote at $32.56 in February and Miami International Airport (MIA) had the lowest average over the last 12 months at $33.72. The highest February average quote was $58.58 at Southwest FloridaInternational Airport (RSW) in Fort Myers and the highest 12-month average of $65.18 was at Denver International Airport (DEN).

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.

Comments

  1. Scott K [ March 1, 2017 @ 03:42PM ]

    Rates have been down in many markets, why? Is it from loss of market share to car sharing providers or UBER or Lyft? In the Metro FLL and MIA markets it is a combination of all of the above and more.
    Parking has become expensive in the Miami Beach and Downtown areas with overnight rates exceeding $25-30 per night. That is more than the cost of the rental in some cases. But travelers trends indicate that car sharing and on-demand transportation is more practical and less expensive. Travelers are saving the rental cars for longer trips.

    With the many consolidations of the name brand rental car companies and the notion that corporate America "is out to get us" deters people from renting with the majors and with the negative comments and poor service indicated in the "Yelps", "Google Reviews" and other consumer to consumer complaint boards deters people from renting with the smaller companies.
    With this said, the lack of renters drives pricing downward as everyone is competing, with rates, for market share.
    Not good for the industry.

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