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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
Norfolk Intl Airport
Additional Travel Information
The Budget Car Rental at Norfolk International Airport (ORF) is conveniently located in the baggage claim area below the main terminal lobby. Open until 1 am daily, our vast selection of Norfolk International Airport rental cars includes everything from spacious SUVs to flashy convertibles. We strive to get you on the road in the perfect ORF car rental for your particular trip quickly and easily.
Built on a large natural harbor, Norfolk was burnt to the ground during the Revolutionary War. Rebuilt and transformed into the pivotal naval hub it is today, it’s now home to a flourishing cultural scene and vibrant downtown core.
The bridges and tunnels that connect the Hampton Roads communities (comprising Virginia Beach, Norfolk and Newport News) are an attraction in and of themselves. In fact, the Hampton Roads Bridge-Tunnel was the world’s first underwater tunnel connected to man-made islands. Be sure to drive one of Budget’s Norfolk airport car rentals along this stretch. It’s the only place in the United States where you will find bridge-tunnels.
Norfolk’s impressive harbor is lined with stately office buildings, and is home to the USS Wisconsin. This 270-meter battleship weighs over forty thousand tons and is docked at the Nauticus National Maritime Center, where you can purchase a combined ticket to visit the museum and tour the battleship.
But first, a vehicle; and for great deals on quality airport car rentals and excellent service, savvy travelers choose Budget. Don’t forget to sign up for the Fastbreak program.
Additional Location Information
Select from a wide variety of vehicles at Budget Norfolk Intl Airport, check out the latest Norfolk Intl Airport Car Rental Deals, and be confident that you are getting the best rental rates in Virginia !
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