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The Hertz Corporation and its Car Rental Unit is expanding its franchisee network as part of a Company-wide strategy aimed at increasing its presence in the airport and off airport car rental markets.
"Hertz is expanding its franchisee network to accelerate growth in certain key US car rental markets, which, we believe, can happen faster under entrepreneurial, local ownership," commented Mark P. Frissora, Chairman and Chief Executive Officer for The Hertz Corporation. "Hertz brings a wealth of franchising experience to the table, providing these new businesses with a variety of resources and cost synergies which will enable them to operate within our philosophy of providing the best possible products and services at the lowest possible price."
With a long, established franchising history in the U.S., Hertz franchisees, today, operate from 278 locations, including 47 airports. Worldwide, Hertz has more than 3500 franchise locations on six continents. Initially, Hertz will be transitioning select corporate markets to franchisee operations.
The Company’s franchisees in established markets will benefit from a strong Hertz presence both on and off airport and will have the opportunity to acquire assets such as facilities, staff and fleet, and operate under established Hertz airport concession agreements and functional operations. In addition, franchisees will be able to take advantage of shared services and cost synergies with Hertz including the Company’s fleet purchasing scale and reservation systems. Hertz will also offer franchises in currently underserved U.S. markets. The Company will provide these local operators with a full array of services to help them establish and rapidly expand their market presence for Hertz.
The expansion confirms Hertz’s vision of being the global leader in mobility solutions. With more than 25% of market share, Hertz is the leading on airport car rental brand. The Company has also been serving the local market and insurance replacement industry for approximately 10 years and is a recognized supplier to more than 193 of the 209 largest insurance companies. In 2010, Hertz won 18 ‘best of’ awards including the Conde Nast Traveler Readers’ Choice Award, for the 18th consecutive year, the Travel & Leisure World’s Best Award, for the 14th time, and the Executive Travel Leading Edge Award, for the 4th time.
Operating one of the youngest and most diverse fleets in the industry, Hertz is committed to offering its customers the most technologically innovative products and services available including online check in, mobile apps, the most advanced GPS unit in the industry, NeverLost, and self service kiosks. Additionally, the company pioneered vehicle specific reservation capabilities with its Green and Prestige Collections.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
