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Short-term rental, boosting turnover on the back of tourism

In Q3 2024, stations located at airports developed 68% of turnover compared to 32% in city centres

by Alessandro Palumbo

(Adobe Stock)

4' min read

4' min read

In the first nine months of 2024, short-term rental operators, according to data from Aniasa, developed a turnover of 1.2 billion euros, representing growth of 5.4% over the same period last year. The results are very positive if we consider volumes: rental days were almost 30 million, 2.5 million more than in 2023. While rentals were around 3.8 million, an increase of 13%. In fact, in 2024, more rentals were made but with shorter durations, the average rental time was 7.9 days, down 4%.

On the pricing side, the intersection of supply and demand led to a slight decrease (-3.3%) in the price per rental day, which stood at EUR 40.4. While the decrease is more evident if we consider the price per rental, which decreased by almost 7 percentage points, this value is obviously determined by both the decrease in revenue per day and the decrease in the average duration of rentals.

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According to Giuseppe Benincasa, director general of Aniasa, 'there has finally been a rebalancing of fleet availability that has allowed operators to provide more rental days and at the same time there has been a readjustment of economic values'.

In the third quarter, the tourism vocation of this sector emerged much more clearly than in the other quarters. Stations located at Italian airports (Apt) developed 68% of the sector's turnover, while those located in city centres (Downtown) developed the remaining 32%. The same percentages are also recorded for rentals. In fact, passenger traffic at Italian airports rose by 10% in the third quarter. Foreigners in particular (+12%) increased, while domestic traffic grew by 7%.

The gap between the price per day of airport rentals versus downtown rentals is almost 13 euros. Tourists are more profitable.

The strategies

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Hertz's results for the high season show a growth in leisure rentals with a decidedly positive performance of premium cars, which recorded an increase of over 40% with appreciation especially from foreign customers also due to greater availability of models. In fact, in 2024 Hertz focused heavily on premium cars, adding new BMW models to its fleet in addition to the wide availability of Audi and Mercedes-Benz models and Selezione Italia (Maserati, Abarth and Alfa Romeo). Customers opt for such cars not only for the elegance and driving pleasure they offer but also for the exclusivity of the service: customers who choose these types of cars have the guarantee of the model they will drive from the moment they book.

2024 was an important year for Locauto: projections indicate an increase in turnover of 17% and the surpassing of 100 rental offices. For 2025, one of the main objectives will be to strengthen the van business unit to strengthen its operational efficiency, optimise costs and expand the offer, with new strategic openings in large cities to support logistics. In parallel, Locauto will focus on artificial intelligence interpreted as a real strategic pillar to optimise internal processes, improve the customer experience and increase the ability to anticipate market trends.

No queues at toll stations

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It's time for something new at Avis Budget Group. It is called eToll, the latest service introduced by the company to optimise the time of each motorway journey and avoid queues at toll booths; it is available for rentals under the Avis, Maggiore and Budget brands. The company offers an "all-inclusive" formula which, for 20 euros a day, gives the possibility of travelling on the entire motorway network and using the lanes and toll gates without having to stop at the toll booth. The eToll device is accessible to all those who have made a reservation of at least three days: to do so, simply apply at the rental desk and, once you have picked up the device, affix it according to the instructions on the windscreen of your vehicle.

Europcar Mobility Group has been pursuing important goals related to reducing carbon emissions for years. This commitment is reflected not only in increasing the proportion of electrified vehicles in the fleet, but also in optimising the rental experience before, during and at the end of the lease. At the start, the vehicles are delivered already with a full tank of energy. During the journey, travel planner systems provide information on the stops to be made and the expected charging times at each station. In addition, the double cables provided with the cars then guarantee flexibility in charging from public or domestic sockets and at the end of the rental period the cars can be returned without a full tank of energy.

More and more rental companies are broadening their scope, not limiting it to the classic one-year rental, such as Drivalia and Sixt.

Based on the Planet Mobility concept, the extensive offer of Drivalia, a company part of the Ca Auto Bank Group: a system of formulas ranging from electric car sharing to car subscriptions and rentals of all durations. The solutions offered are summarised by the four verbs Rent, Lease, Subscribe and Share.

Multiple mobility services are provided by Sixt through a single app including short- and long-term rentals with Sixt Rent, fully flexible and customisable subscription models with Sixt+, chauffeur services through Sixt Ride and car sharing services in Milan.

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