Rental Car Revenue Down at Cincinnati Airport

Cincinnati/Northern Kentucky International Airport rental car revenue is down $3.5 million—nearly 6 percent—from a year ago, and that slide is pinching the budget of Northern Kentucky Tri-ED, which promotes economic development in the region, according to The Cincinnati Post.

Tri-ED gets 95 percent of its funding from a fee that is a percentage of car rental charges at the airport and other rental agencies in Boone, Campbell and Kenton counties.

Delta announced the reduction at the end of 2005, so Tri-ED anticipated less revenue from rental car fees when it drew up its fiscal 2007 budget that began last July. Dan Tobergte, president and CEO of Tri-ED, says revenue is projected to drop from $1.6 million a year in fees down to $1.3 million.

The smaller budget has resulted in cuts in Tri-ED’s marketing budget and other operations, causing concerns about Tri-ED’s ability to drive economic development in Northern Kentucky. With that in mind, Tobergte is looking for additional sources of income for Tri-ED, The Cincinnati Post reports.

The airport is also hurt by the drop in rental business because it collects 9 percent of car rental revenue as a concession fee. That fee makes up 4.6 percent of the airport's $112 million annual budget.

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Car Rental Rates Up, Fleet Sales Down — Correlation?

Car rental companies’ recent fleet discipline is needed now more than ever.

Hertz, Avis Autonomy Partnerships: Good First Steps on a Long Path

Two new autonomous vehicle project partnerships bring the importance of fleet management to the fore.

An Inside Look at Car Rental in China

A trip to a new car rental convention in Guangzhou reveals a booming market, yet one facing unique challenges.

Job Finder: Access Top Talent. Fill Key Positions.

>