Business

Car rentals bringing in major bucks at MIA

Miami International Airport’s rental car center is used by an average of 24,000 travelers a day.
Miami International Airport’s rental car center is used by an average of 24,000 travelers a day.

Miami International Airport is focused on air travel, but the busy hub is seeing growth in land-based transit as well.

The Miami-Dade Aviation Department said Wednesday that car rental revenues jumped 68 percent between 2010 and 2014, from $330.9 million to $555.9 million. The department gets a 9 percent share of gross revenues.

A new rental car center opened at MIA in 2010 consolidating large and small companies in one place. With 16 car rental companies and an inventory of about 6,500 vehicles, the center is used by an average of 24,000 travelers a day.

According to the airport, the increased revenues are helping the aviation department repay $240 million in loans that were used to build the facility. Loans are slated to be paid off in 2022, which is 22 years before they’re due.

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