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July 23

A Revolution in Car Rental: Maximizing Revenue & Yield with Weather Data

Have you ever shown up to a car rental counter only to find the lights off and a sign stating “no cars available”? The chances are good considering that revenue management for car rental companies has been referenced as being more difficult than nuclear physics.  A $100 billion global industry with a >20% no-show rate, rental car companies are beginning to utilize artificial intelligence to minimize oversell situations and maximize revenue on rapidly depreciating assets. An existing (and oversimplified) view of factors considered by mainstream rental agencies in vehicle pricing, positioning, and segmenting. External Pressures Fuel Industry Challenges From rideshare...