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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
Newport News/Wllmsbrg Intl Apo
Additional Travel Information
Virginia is for lovers, and you’ll love the service and the deals available from Budget Car Rental at Newport News/Williamsburg International Airport (PHF). Open seven days a week until midnight, our friendly and helpful staff will get you out of the airport and off to the beach in no time.
Surf, sand, sun and fun are easy to get to in one of our airport car rentals. With miles of sandy beaches and an oceanfront boardwalk, it’s no wonder tourists flock to Virginia Beach all year long.
If you’re traveling in a PHF car rental with kids, be sure to check out the Ocean Breeze Waterpark. With 16 slides to choose from ranging from gentle slopes to hair-raising drops, every member of your group will be able to cool off at their own speed. The park also boasts a million-gallon wave pool for those who prefer tubing to sliding.
For a chance to glimpse some Virginian marine life, take a ride on a double-decker nature-watching boat. It’s best to visit in the early winter for whale watching. For bottlenose dolphins, warmer months are better.
If you want to step away from the beach, take a 30-minute drive to the Great Dismal Swamp National Wildlife Refuge, home to black bears, bobcats and various bird species.
Whether you’re here for the beaches or the bears, one of our Newport News airport car rentals will take you there. And to get your holiday started even sooner, sign up for the Fastbreak program. You’ll be able to skip the line at the rental counter, hop into one of our Newport News/Williamsburg International Airport rental cars, and hit the road.
Additional Location Information
Select from a wide variety of vehicles at Budget Newport News/Wllmsbrg Intl Apo, check out the latest Newport News/Wllmsbrg Intl Apo Car Rental Deals, and be confident that you are getting the best rental rates in Virginia !
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