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It depends on many variables like weekday/weekend, time of the day, occasion (weddings are more expensive), and the demand at the time. We look at google adwords to see trend shifts in demand and depending on how much demand there is out there, we will adjust our price accordingly. At the moment, during the winter, it's about $150/hour for 4 hours during weekdays, $175/hour for 4 hours on weekends.
Chicago Party Bus
Never forget about discount rates. Almost every limo service offer discount on limos of all sizes at the cheapest prices anywhere.
on fridays and saturdays my buses go out for $145 per hour for 5+hrs, and $165 per hr for 4 hours (minimum)
The market must be a bit different in Chicago. Unless it is last second min 3 hours on a Saturday is $280/hr, $240/hr Friday Sunday, $200/hr Mon-Thur. Based on the type of job tack on another 20% for tip... although I do a discretionary tip for certain types of jobs.
This seems to be pretty on par in my area for a "higher end" large limo buses, 28+ passengers.
Some companies reduce their rates to unreasonable levels in January, February and March... but I have not yet. My first year in business and still feeling out price levels.
I've raise my prices $25 per hour on Saturday for the same size vehicles I had at the time that I posted on here (this is an old thread). It's all about supply and demand. The more calls and website visits you generate the more you can charge because you can afford to turn people down who want a good deal.
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Competition is always there in transportation business , but according to us price strictly depends on the type of occasion, number of people, number of hours needed and how far client want to go. First we will need to know if this is for a wedding, concert, prom, birthday party or maybe an anniversary only than we are able quote the best possible price.Often times, the right vehicle according to occasion can make all the difference between us and our competitors.
It really depends on how many calls you get for the vehicle, if you get a lot of calls your vehicles will be going out for top dollar, if you only get a few calls during the week for the vehicle most likely you will not get top dollar for it unless you get lucky, so advertise advertise advertise ! With a lot of phone calls you can have higher rates.
I would prefer to book 1-2 months in advance for the best rates available for party bus or limo bus companies.