Budget Car Rental Systems, Inc. is an American car rental company founded in 1958 in Los Angeles, California by Morris Mirkin. Budget operations are headquartered in Parsippany, New Jersey.
With a 10-car original fleet, the company lives up to the name of 'Budget' by underestimating the daily and per-day rental rates of airport-based car rental companies. Mirkin joined in 1959 by Julius Lederer (husband of columnist Ann Landers) who built the company, and made it an international company. In 1960, the headquarters moved to Chicago, Illinois and the rental fleet was expanded with rental outlets that were rented and wholly owned.
The company was eventually acquired by Transamerica Corporation, and then sold in 1986 in leveraged purchases by Gibbons, Green and van Amerongen Ltd., along with management (led by CEO Clifton E. Haley) and selected investors. The company made its first public share offer in 1987.
Team Rental Group bought a public company in 1997 and took the name of the Budget Group . In 2002, the company sold its assets to Cendant Corporation, which also owns Avis and in September 2006, Cendant Corporation was separated into four independent companies. The real estate division became Realogy, Inc., its hospitality services division became Wyndham Worldwide, and its travel distribution service division became Travelport, Inc., an affiliate of The Blackstone Group. In 2006, after the sale of Travelport, Cendant, it now consists only of its vehicle rental business, renaming itself the Avis Budget Group.
Of the approximately 800 US Budget Car Rental locations, 600 are company-operated locations and 200 are licensed locations. Internationally, there are 150 company-operated locations and 1,800 licensees.
Video Budget Rent a Car
Celebrity spokesperson
Beginning in April 2011, television actress Wendie Malick of Hot in Cleveland is a spokesperson in a series of television and online advertising offering limited, time-specific discount offers.
Maps Budget Rent a Car
References
External links
- Car Lease Rental Budget Website
- Budget Car Rental Official Website of the United Kingdom
- Official Australian Car Rental Budget Web Site
- Budget Car Rental Official Web Site New Zealand
Source of the article : Wikipedia
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