Rate Declines Soften in March
In March, the average airport rate quote was only down 81 cents from March 2015, according to The Tennant Group and Rate-Highway’s 50-City rate survey. The Northeast region declined $11.71 year-over-year while the Midwest, Southwest, and Northwest regions were all up.
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.
March rates were down again, but in this case it was less than $1. Easter was a week earlier in 2016 versus 2015, so there may be some fluctuation between March and April in the two-year comparisons.
The Midwest, Southwest, and Northwest regions were all up, but the Northeast continued its large year-over-year declines that we have seen almost every month since late 2014.
Brand pricing continued the pattern we saw last month, although not as pronounced. The three largest brands (Hertz, Avis, and National) were all up in the $3 to $4 range while the smaller five brands were either flat or down.
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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