Posts in Rate Surveys

Car Rental Rates and Easter

April 8th, 2015 Posted by Car Rental Show, General Car Rental Industry, Rate Surveys No Comment yet

Easter occurred two weeks earlier in 2015 than in 2014. Spring break is tied into Easter, although not as much as in the past. At one time, almost all school administrations scheduled their break the week before or the week after Easter. Many still do so, but there are some that have breaks at fixed times of the year, rather than scheduling around Easter, which can occur on any date from March 23 to April 25. In any case, even though less so than in the past, Easter still has a big impact on rental rates.

Our rate quote surveys are for rentals 15 to 21 days out, and the average rental length is three to four days, so the biggest impact on rates of an event such as Easter is three weeks out. Rates did spike and then fall off immediately three weeks out both years, but 2015 was weaker than 2014, as can be seen from the following:

Number of Weeks Before Easter
543210
2014$54.54$58.88$59.31$50.05$46.58$49.94
2015$52.45$55.50$58.24$54.17$46.97$43.59
Yr to Yr($2.08)($3.38)($1.07)$4.12$0.39($6.35)

Latest Rate Survey Results

January 21st, 2015 Posted by General Car Rental Industry, Rate Surveys No Comment yet

We receive rate surveys from Rate Highway every week and write a column for Auto Rental News Online every month, summarizing and analyzing the weekly rate surveys. Click here for the latest column.

Every Friday Rate Highway polls each of the eight major and a couple of secondary brands’ own web sites and the major online travel agencies, and pulls the lowest rate for a mid-size car (ICAR) for each brand for each day from 15 to 21 days out at the top 50 US airports for a two day and seven day rental. This results in approximately 6,000 individual quotes. We calculate the regional and nationwide averages, weighted by arriving passenger volume at each airport. We also calculate an average for each major brand at the top 20 airports. If you would like to discuss the methodology in more detail, please contact Jim Tennant – jim@tennantgroup.com or 707-287-1311.

After about 18 months of year over year increases, rates flattened and then declined starting in June, 2014 (with a one month spike in July caused mostly by recalls). In mid December, Hertz Global Holdings announced that they were increasing rates and we saw the year over year weekly average go from down approximately $8 per day to up $2 to $3 per day. This increase lasted two weeks. The January 9th survey was down $2.21 from a year ago and the January 16th survey was down $4.87. The next two weeks will take us to the end of January and we will report the full month in our Auto Rental News column at that time. Watch for it!