Industry Research

Charter & Tour: Industry Stays Solid in Tough Year

LCT Staff
Posted on April 30, 2010

While the number of respondents increased substantially compared to the 2009 survey, participation did not reach the level of statistical validation. Below is a sample of industry indicators:

  • The average gross revenue for respondents in 2009 was $3.35 million. The median was $1.95 million.
  • Average number of vehicles in fleet: 13
  • Median number of vehicles in fleet: 9
  • Median number of years in business: 15
  • Median annual cost per vehicle for licensing: $510
  • Median monthly cost of insurance per vehicle: $638
  • Median monthly finance payment per vehicle: $2,500
  • Median overall percentage profit margin for 2009: 7%
  • Average hourly wage for drivers (excluding benefits): $13.13
  • Average hourly wage of dispatchers and reservationists: $14.11
  • Average annual pay increase percentage for employees in 2009: 1%
  • Average of company revenue that goes to labor costs: 26%
  • 71% of operators maintain their fleets in-house
  • 29% outsource their maintenance
  • 39% of operators assess a surcharge for fuel
  • Only 36% of the respondents state that their customers can make real-time reservations via their Web site.

 

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