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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
Alexandria – Hilton Mark Ctr
Additional Travel Information
Alexandria, Virginia, is located less than a half hour away from Washington, D.C., but you don’t have to drive your rental cars out of the area to have a good time. The Potomac River runs along the eastern edge of the city and is the perfect place for a walk at sunset. Take your family on a river cruise, and then head onto dry land where a variety of museums, theaters and restaurants await your attention. You only have so much time to get away with your loved ones, and you don’t want to spend much of that time selecting and picking up car rentals. That’s exactly why you should book your car with Budget Rent a Car at the Hilton Mark Center. We believe in making Alexandria car rentals as quick and painless as possible. Sign up for the Fastbreak program, and at participating locations well let you flash your license at the counter, grab your keys and go. Create your RapidRez profile in order to save your rental preferences and discount information so it can efficiently be applied to your future online car rental bookings. Once you pick up a car suitable for your business or family trip at our Hilton Mark Center rental counter, drive across town to see the George Washington Masonic National Memorial or the National Cemetery. Budget at the Hilton Mark Center Alexandria is stocked with a wide selection of rental cars, whether you’re up for an afternoon on the river or a weekend museum tour. When you’re ready to visit Budget car rental at Hilton Mark Center, select your preferred car style, and then book online to save up to 30 percent with Budget Hilton Mark Center today.
Additional Location Information
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