With the help of Michael Meyer of Rate-Highway Inc. and Jim Tennant of The Tennant Group, Auto Rental News will conduct weekly auto rental rate surveys for six major cities and will publish the findings in our e-newsletter the first Wednesday of each month.
The average rates for September recovered somewhat from the dramatic dropoff in August. Rates are pulled for pickup 2 to 3 weeks out, so demand vs. availability can be expected to be stronger in October than September. Looking at individual cities, Boston, Chicago and Houston showed sharp increases, Seattle had a major dropoff and Miami and LAX were relatively stable.
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 6 airports shown, for arrivals 15 to 21 days ahead of the date of the survey, for 2 and 7 day rentals.
Average weekly rates were quite stable. Except for the 9/9 pull (for pickup from 9/24 to 9/30), the average was between $41.02 and $42.52 for the 6 weeks ending 9/30. Miami is recovering from its low, Seattle is falling off and the rest are stable through September. Chicago continues to be at or near the top of the rate rankings.
For August's report, click here.