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Our Factsheet
Growing the business since 1958
In Summary: Day after day, Budget employees and operators at approximately 2,700 locations in more than 120 countries help support our vision, mission and values.
Quick History
Budget Rent A Car was founded by Morris Mirkin in 1958 with a $24,000 investment. The company name was chosen to appeal to the “budget-minded” or “value-conscious” renter. In 1959, in an effort to grow the business, Mirkin appealed to a distant relative, Jules Lederer, president of a Chicago-based manufacturer of writing instruments, for additional financing. Lederer formed a leasing company and leased new vehicles to Mirkin. In 1960, Lederer formed Budget Rent A Car Corporation in Chicago. The company then grew rapidly, both nationally and internationally.
In 1986, Gibbons, Green and van Amerongen Ltd. along with management and selected investors purchased Budget from Transamerica Corp. in a LBO transaction. Budget made an initial public offering of 3.2 million shares in 1987.
In 1992, Budget moved downtown Chicago headquarters to Lisle, Ill.
In April 1997, Budget was bought by Team Rental Group, Budget’s largest franchisee in the United States and changed its name to Budget Group, Inc. Budget Group began trading on the NYSE that year.
In 1997, Budget unveiled “Unlimited Budget” a travel agent loyalty program through which members receive a free Unlimited Budget debit MasterCard card and earn points (dollars) for completed bookings.
In 1998, Budget introduced “Fastbreak,” Budget’s express service with paperless transaction.
In 2002, Budget Group was delisted from the NYSE and sold Budget Rent A Car assets in the United States, Canada, Latin America, Caribbean, Australia and New Zealand to Cendant Corporation. Other worldwide assets were sold to Avis Europe, Plc. Later, Cendant moved Budget headquarters from Lisle, Ill. to Parsippany, N.J.
In 2006, Cendant Corporation separated into four independent companies: Realogy, Wyndham Worldwide, Travelport and Avis Budget Group, Inc. As a result, Budget Rent A Car System, Inc. is now a subsidiary of Avis Budget Group.
In 2011, Avis Budget Group, Inc. acquired Avis Europe plc. The transaction re-unites Avis Budget Group with its licensee for Europe, the Middle East, Africa and Asia.
About this location:
Location
Annapolis, MD Downtown
Additional Travel Information
Annapolis is located on the Chesapeake Bay and is Maryland’s state capital. The city is filled with New England charm and is noted for having a number of historic locations and colonial style buildings and homes. The city is also close to Washington, D.C., and is just over an hour away from Virginia, so if you’re interesting in getting the most out of your vacation, be sure to get an Annapolis rental car deal from Budget Rent a Car on West Street. At Budget on West Street, you’ll find a great selection of rental cars. Whether you’re interested in reducing your carbon footprint by renting a Toyota Prius or want to ensure that you’ve got plenty of seating and storage by renting a minivan or SUV, you’ll find what you’re looking for. Budget also offers a complete selection of Annapolis car rentals, starting at 2- and 4-door compacts and going up to full-size and luxury cars. West Street Annapolis is just south of U.S. Route 50, also referred to as the John Hanson Highway, which runs east to west through the state and connects to Interstate 97. From West Street, you can head northwest to Waterworks Park or east to the Navy-Marine Corps Memorial Stadium and the Banneker-Douglass Museum. During your stay, you’ll also want to visit the area’s most popular park, Quiet Waters Park, or check out St. Anne’s church, another popular destination. When you reserve a car with Budget Car Rental on West Street, don’t forget that you can pay in advance and save up to 30 percent. Register today for FastBreak, and you can make car rentals even faster by skipping the line since you can just flash your license, grab your keys and go.
Additional Location Information
Select from a wide variety of vehicles at Budget Annapolis, MD Downtown, check out the latest Annapolis, MD Downtown Car Rental Deals, and be confident that you are getting the best rental rates in Maryland !
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