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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
Las Vegas
Additional Travel Information
Possibly the most well-known city in Nevada, Las Vegas draws in visitors from around the world to enjoy amazing shows, fine dining and gambling at a number of casinos. Whether you’re looking to win big at Caesars Palace, take in a show at the Cirque du Soleil or visit the Madame Tussauds wax museum, the easiest way to get around is with a car rental from Budget on West Tropicana Avenue.One of the major benefits of renting from Budget Rent a Car on West Tropicana Avenue is that we offer Fastbreak, which allows you to register online and fill in your details before picking up your car. As a RapidRez member, you can skip the line and be in your rental in minutes. Our West Tropicana Avenue location offers a wide variety of rentals, including everything from two-door compacts to full-size SUVs. You can even rent a luxury vehicle or a convertible.The West Tropicana Avenue Las Vegas Budget office is located in the southern part of the city only a few miles away from Interstate 15, which intersects with Interstate 215. You’ll be just minutes away from a variety of hotels and resorts, such as the Mandalay Bay Resort and Casino and the Palms Casino Resort. If you prefer shopping to gambling, you can visit the North Premium Outlets or the Boulevard Mall.Whether you’re in Las Vegas on a romantic getaway or a family vacation, be sure to book with Budget car rental on West Tropicana Avenue for an excellent selection of affordable rental cars.
Additional Location Information
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