February Rates Continue Lower Price Trend
According to Rate-Highway and The Tennant Group’s 50-City Survey, the average overall rates in February were down $2.69 from a year ago. The Northeast continues to have the strongest rates at $60.62.
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.
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.
Down $2.69, February 2015’s rate quotes continued to be lower than the same time last year. Hertz Global Holding Inc.’s December announcement of a rate hike may have moderated the year-to-year decline, but didn’t reverse it.
The Northeast continues to have strong rates at $60.62, with the other four regions (Northwest, Southwest, Midwest, Southeast) in the mid to high $40 range.
The strength of the U.S. dollar is certain to have an effect on inbound international travel this summer, and rates in the main arrival cities will likely be somewhat soft as a result. As a result of the strong dollar, U.S. goods and services will cost travelers from the Eurozone almost 25% more than a year ago.
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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