RM Tips and Strategy
The Hidden Secrets of Car Rental Pricing Most Owners Miss
Car rental revenue management isn’t just about setting competitive rates - it’s about maximizing each vehicle’s earning potential through smart, data-driven decisions.
Michael Meyer, the Founder and CEO of Rate Highway, was recently featured on the Revenue Machine Podcast Hosted by Emmanuel Scuto, the CEO of WeYield, this episode dives into Michael’s extensive journey in the car rental industry and his pivotal role in shaping automated rate positioning technology over the past two decades.
Michael has been a driving force in the industry since the mid-1980s, where he witnessed—and contributed to—the evolution of technology, from working on a Commodore computer to navigating today’s internet-driven innovations. His experience has positioned him as a leader in car rental technology, especially in the development of Rate Highway's cutting-edge solutions.
Here’s a look at some of the key moments from this engaging discussion:
Emmanuel introduces Michael, setting the tone for a thought-provoking conversation about his career and the evolution of Rate Highway.
Michael shares insights into how programming became an essential tool in overcoming challenges within the industry, highlighting its role in the development of rate automation technology.
In this segment, Michael reflects on the beginnings of his first company, Symmetry Computing, which laid the foundation for his later ventures and Rate Highway’s success.
Michael discusses the origins of rateshopping and how the concept, initially utilized in the hotel industry, was successfully adapted for car rental businesses.
In this portion of the podcast, Michael examines the key differences between the US car rental market and global trends, offering listeners a comprehensive view of market dynamics.
Michael outlines how technological advancements have shaped Rate Highway’s operations and strategies, allowing the company to remain at the forefront of the industry.
To close the conversation, Michael shares his approach to continuous learning and personal development, providing valuable takeaways for professionals in the car rental and mobility sectors.
For those seeking additional resources, Michael recommends two insightful books for further reading:
This episode offers a wealth of knowledge and expertise from a true industry veteran. We encourage you to listen and gain a deeper understanding of the car rental industry, as well as the innovations driving its future.
Stay tuned for more episodes from WeYield as we continue to highlight thought leaders and industry experts shaping the future of revenue management in the car rental industry.