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

Five Business Model Trends for 2017

As new forms of mobility take flight, the borders with traditional car rental are starting to erode.

Are Commercial Drone Deliveries Eminent in the U.S.?

Amazon just delivered its first package by drone in England. Will U.S. delivery fleets be able to take advantage soon?

Autonomous Vehicles and the Changing Role of the Fleet Manager

With fewer drivers and substantially longer fleet lifecycles, fleet managers will pivot to new job functions.

Job Finder: Access Top Talent. Fill Key Positions.