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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
Cambridge Charles Hotel
Additional Travel Information
How are you going to impress your family on your next vacation? Booking Cambridge car rentals is a great way to show them a good time, and the selection of rental cars at the Budget Charles Hotel location is perfect for making sure you have fun driving too. From here, you can follow Memorial Drive along the Charles River to see Harvard, MIT and the Charlestown Navy Yard. It’s also just a quick drive over the bridge into Boston, where you’ll discover historic sites like Faneuil Hall Marketplace, the New England Aquarium and Boston Common. Even if you’re not staying in the nearby Charles Hotel, the car rentals in Cambridge are great travel add-ons for getting to know Massachusetts and the East Coast. The Budget car rental Charles Hotel venue is close to Interstate 90 and only a few miles from junctions with Interstate 93 and U.S. Route 1, so you can wow your family with a trip to New York City or spend a day relaxing in Cape Cod. Let us know if you’re going to be exploring off the beaten path at spots like Blue Hills Reservation or Middlesex Falls, and we’ll even recommend a GPS that can get you there and back in one piece. At the Charles Hotel Cambridge Budget Car Rental, you’ll find a broad selection of vehicles that let you enjoy the travel comforts you’re used to. We even offer seasonal Cambridge rental car deals and advance booking, so you’ll have more money left over for attractions and souvenirs. Find out more by checking our competitive rates soon.
Additional Location Information
Select from a wide variety of vehicles at Budget Cambridge Charles Hotel, check out the latest Cambridge Charles Hotel Car Rental Deals, and be confident that you are getting the best rental rates in Massachusetts !
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