The Hertz Corporation Expands Franchise Network
PARK RIDGE, NJ --(Marketwire - March 21, 2011) - The Hertz Corporation (NYSE: HTZ) 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.
Those interested in Hertz Franchise Opportunities can contact Patricia Consoli, Franchise Coordinator at (201)307-2233 or firstname.lastname@example.org.
The Hertz Corporation, a subsidiary of Hertz Global Holdings, Inc. (NYSE: HTZ), is the world's largest general use car rental brand, operating from approximately 8,500 locations in 145 countries worldwide. Hertz is the number one airport car rental brand in the U.S. and at 83 major airports in Europe, operating both corporate and licensee locations in cities and airports in North America, Europe, Latin America, Australia and New Zealand. In addition, the Company has licensee locations in cities and airports in Africa, Asia, and the Middle East. Product and service initiatives such as Hertz #1 Club Gold®, NeverLost® customized, onboard navigation systems, SIRIUS Satellite Radio, and unique cars and SUVs offered through the Company's Prestige, Fun and Green Collections, set Hertz apart from the competition. The Company also operates the global car sharing club, Connect by Hertz, in New York City, Berlin, London, Madrid and Paris. Hertz also operates one of the world's largest equipment rental businesses, Hertz Equipment Rental Corporation, offering a diverse line of equipment, including tools and supplies, as well as new and used equipment for sale, to customers ranging from major industrial companies to local contractors and consumers from approximately 325 branches in the United States, Canada, China, France, Spain and Saudi Arabia.