Solombrino Prepares Travel Managers for Rate Increases

Posted on April 28, 2004 by LCT Staff - Also by this author - About the author

New York, N.Y. – Scott Solombrino, president of the Dav El Chauffeured Transportation Network told attendees at the Corporate Travel World Show in New York City in March that his company would increase rates by six to 10 percent by June, due to rising insurance and fuel costs.

He made the announcement at a Car Rental and Ground Alternatives session, referencing rental car companies that had recently gone out of business because they hadn’t sufficiently increased rates to cover skyrocketing costs.

Solombrino and representatives from BostonCoach and Carey Worldwide Chauffeured Services reported a steady climb in sales, but those sales are not making up for rapidly increasing costs, Solombrino said. This will be Dav El’s first significant rate increase in three years.

Todd Stephens, senior vice president of BostonCoach, said that a rate increase was not currently planned, but that his company would continue to monitor economic factors. Rising fuel costs could affect his company’s decision, he conceded.

Vince Wolfington, chairman of Carey International said there are no plans for rate increases at his company, despite rising costs.

Solombrino, Stephens and Wolfington were optimistic about the ground transportation industry and the economy overall. Stephens reported consistent incremental growth; Solombrino noted a trend of strong sales that began in November 2003; and Carey has seen significant volume increases since January.

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