Hertz

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Part
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Company Overview - Hertz

The Hertz Corporation primarily offers vehicle renting services. Other services include fleet management solutions and vehicle leasing. Further details about the company are given below.

History and Origin

  • Hertz has its origins dating back to 1918 when Walter Jacobs, aged 22 at that time, founded a rental car company near Chicago with only 12 cars.
  • John D. Hertz purchased the company from Jacobs in 1923. Although Walter sold the company, he continued to serve the company until his retirement in 1960.

Growth

  • After purchasing the company in 1923, Hertz was able to set up the company for success and was making annual revenues of about $1 million by 1925.
  • In order to address the expanding requirements, the company set up a coast-to-coast rental network by 1925.
  • In 1926, Hertz started the Rail-Drive program, which could be used by travelers to hire a rental car as soon as they stepped off the train.
  • The same year, Hertz also launched the National Credential Card, which was a precursor to the credit card and also served as the first identification card in the industry.
  • Similar to the Rail-Drive program, Hertz launched the Fly-Drive program to offer the same services to air travelers in 1932.
  • In 1950, Hertz stepped out of the US and launched its first European location in France. By 1955, Hertz reached the milestone of 1,000 locations and it was the first rental company to do so.

Locations

  • Today, Hertz has locations across the globe including "North America, Europe, The Caribbean, Latin America, Africa, the Middle East, Asia, Australia and New Zealand."
  • The company operates a total of 10,200 corporate and franchisee locations across these locations.

Services

  • Hertz is a subsidiary of Hertz Global Holdings, Inc.
  • Hertz Global Holdings provides renting vehicles through Hertz, Dollar, and Thrifty brands. It also provides integrated vehicle leasing and fleet management operations through Donlen, another subsidiary of Hertz Global Holdings.
  • The Hertz brand primarily offers vehicle renting services, car-sharing services in international markets, and vehicle selling services.

Headquarters

  • The company's headquarters is located at 8501 Williams Road, Estero, Florida 33928.

Financials

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Part
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Agency of Record and Creatives - Hertz

Hertz Engine was created to address the fragmented nature of the creatives, a common issue with international companies. Hertz Engine was just created in August and has not had time to run many creatives. Reasons for the creation, what the agency does, and available examples are provided below.

Hertz Engine

Reason For Creation

What They Do

  • Hertz and Adjust Your Set had a very successful campaign called Cars So Great and they created a series of campaigns called Voyage à la Française that went live in August. Hertz then used Adjust Your Set to establish Hertz Engine to "create, scale and deploy" similar types of campaigns moving forward in the future.
  • Hertz plans to still use other agencies to handle the media and public relations needs.
  • The Hertz Engine team will use data to enhance the customer experience, develop 360 degree campaigns, and drive preference for Hertz.

Creatives Examples

  • Voyage à la Française is a creative that was created by Adjust Your Set and launched the same week that the announcement of the in-house marketing department created by Adjust Your Set.
  • Travel Seamless campaign ran at the beginning of October, after the creation of Hertz Engine, will be a co-branded campaign from Hertz and Lufthansa to highlight Hert'z offerings of luxury vehicles and Lufthansa's top modern aircraft. The campaign's message is "Premium in the Air and Premium on the Road Travel Seamless".

Agency of Record for US, Canada, and Latin America

  • WPP's MEC was named the media agency of record for Hertz in the US, Canada, and Latin America in 2016. They were chosen to consolidate "media investment, planning, strategy, digital, SEM, SEO, mobile, analytics and insight, and affiliate marketing with one agency". There are no subsequent articles, press releases or investor information from the company announcing a change in its agency of record for the Americas.

Strategy

We examined the company's news releases, investor relations, and applicable press releases from the company for information regarding the Hertz Engine and creative examples. This search revealed only one example of a creative that has run in the short time after the creation of Hertz Engine.
We then searched the companies social media pages in an attempt to identify other creatives but no more were revealed after the creation of the in-house agency besides the one already provided. A creative that was created by Adjust Your Set launched the same week it was revealed that the same company set up Hertz Engine, so we used that as an additional example.
As a final strategy to identify creative examples that were created by Hertz Engine we search advertisement databases for recent Hertz Europe advertisements, however, this did not reveal any more campaigns.
We further searched for news stories, press releases, and investor information for more recent news regarding the company's agency of record, this search did not reveal any different information. We searched for information regarding MEC to determine if they provided any information regarding if they were replaced as the company's agency of record, however, this strategy did not reveal any additional information. As a final strategy to verify the Americas agency of record we searched for it using agency database 4A's agency search which revealed G2 to be the agency of record, however, further investigation revealed this to be the same agency, WPP. Therefore, we verified that MEC was still the agency of record.
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Part
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Biography - Jodi Allen Executive Vice President and Chief Marketing Officer (CMO) at Hertz

Jodi Allen currently holds the position of Executive Vice President and Chief Marketing Officer (CMO) at Hertz with an extensive prior work experience of 27 years at P&G. She also currently serves 3-5 boards, one of them being her alma mater Xavier University. She is married to Chris Allen, has four children, and she supports fundraisers related to cancer.

Personal Information

Education

  • Jodi Allen completed her graduation at Xaviers University with a Bachelor of Science degree specializing in Management Information Systems in 1983.
  • As per her Facebook profile, she did her schooling in Notre Dame Academy Toledo, Ohio class of 1983.

Family Life

  • Jodi Allen has been married for 29 years to Chris Allen, a business coach whom himself worked at P&G for 24 years.
  • The Allens have one son (Jordan, 27) and three daughters (Kelsey, 25; Madison, 23; and Shawn, 22).

Hobbies and Interests

  • As per her education profile on LinkedIn, it is mentioned that she was a scholarship student for tennis, hence, one can ascertain that playing tennis would be one of her main interests.
  • Jodi Allen continues to give back to the university as a mentor to students and a member of the Board of Trustees and Athletics Board.

Social Causes and Charities

  • As per her Facebook profile, she supports cancer research, she recently donated to Ovarian Cancer Research Alliance (OCRA), through a private fundraiser. OCRA is the largest non-government funder of ovarian cancer research and has funded over $85 million in cancer research since 1998.
  • She has mentioned other private fundraisers related to cancer that she has donated to on her Facebook profile.

Social Media Accounts

  • She is very active on her personal Facebook profile with 2,111 friends. Her latest posts on Facebook are holiday spending with family and friends.
  • Other than her Facebook profile, she has a LinkedIn profile with 500+ connections.

Professional Information

Prior Work Experience

  • Her initial work experiences at P&G include Associate Director, Section Manager, Senior Systems Analyst, and Analyst in the areas of IT Help Desk, Computer Security and FY End Logistics. She worked with the CIO for 6 yrs (1992 – 1998).
  • At Procter and Gamble, her career has spanned 27 years in various leadership roles across geographies that include Director, Business Intelligence, VP & General Manager, Global Business Services (CEEMEA), Marketing Director North America Baby Care (Broadening Assignment), Digital Business Strategy Leader, and VP & General Manager, North America (1998 -2008).
  • She served as Vice President and General Manager of North America Hair Care at Procter & Gamble, where she managed across the functional team responsible for developing portfolio strategy across six brands. Prior to that, Ms. Allen spent eight years in Baby Care and General Management and 19 years in various other key positions at Procter & Gamble (2008 -2017).

Current Work Experience

  • Since October 2017, Allen has been executive vice president and chief marketing officer for Global Holdings, Inc., a car rental company featuring the iconic Hertz brand, along with Dollar and Thrifty.
  • Allen would be leading global marketing efforts to re-energize the Hertz, Dollar, Thrifty, and Firefly brands.
  • In her first quarter, the fourth quarter of 2017, Hertz ended a streak of nine consecutive quarters of decline. She's led the way toward introducing new taglines for Hertz ("We're here to get you there") and Dollar ("We never forget whose dollar it is").

Boards

  • Jodi Allen officially joined her alma mater Xavier Board of Trustees in Sept 2018 and Xavier Board of Athletics.
  • As per her LinkedIn profile, she is currently a Strategic Advisor for Liberty Advisor Group, a part of the Business Advisory Council for Miami University Executive Sponsor for P&G.
  • Jodi Allen is a part of the Strategic Advisory Board of WINiT (2019 -2020).

Recent News Articles

  • Hertz Global Holdings Inc. and New York-based Clear have launched Hertz Fast Lane powered by Clear, a service that uses biometrics to speed members through the rental car process. Jodi Allen, chief marketing officer at Hertz, in a phone interview, mentioned that with this system in place, they are able to get their customers out of the exit gate in 30 seconds or less which is a 75% improvement.
  • As per PR Newswire, Hertz, one of the world's most iconic car rental brands, has earned more than 150 accolades from some of the top influencers in the travel industry during its centenary year. Jodi Allen mentioned that this honor is a true testament of this company's efforts that prioritizes speed, service, and innovations.
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Part
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C-Suite - Hertz

The members of the C-Suite team at Hertz are Kathy Marinello, Jodi Allen, Eric Esper, Murali Kuppuswamy, Opal Perry, Paul Stone, and Jamere Jackson. In 2017, Kathy Marinello joined Hertz; she is currently serving as the CEO, president, and board member at Hertz. Continue below for a deep dive into our findings.

Kathy Marinello

Jodi Allen

Eric Esper

  • In 2018, Eric Esper joined Hertz as the vice president & corporate controller. He is currently serving as the senior vice president and chief accounting officer at Hertz.
  • Before his appointment as the vice president & corporate controller at Hertz, he served in several capacities at Norwegian Cruise Line Holdings Ltd. Some of his position at Norwegian Cruise Line Holdings Ltd are director, operations accounting, senior director and assistant controller, vice president and assistant controller, vice president and controller, and vice president, brand finance & strategy.
  • Mr. Esper holds both master and bachelor's degrees from the University of Michigan — Stephen M. Ross School of Business where he studied Business Administration.
  • Eric Esper has over 500 connections on his LinkedIn account.

Murali Kuppuswamy

Opal Perry

  • In 2018, Opal Perry joined Hertz. Mr. Perry is currently serving as the executive vice president and chief information officer at Hertz.
  • Before joining Hertz, Mr. Perry has served in several positions at Allstate. Some positions held by Mr. Perry at Allstate are VP testing and release management, chief operating officer, and divisional chief information officer.
  • Mr. Perry has three master's degrees and a bachelor's degree in Computer Engineering, Engineering and Public Policy from Carnegie Mellon University. Mr. Perry has over 20 years of experience in building and growing global technology for organizations.
  • Opal Perry has over 500 connections on his LinkedIn account.

Paul Stone

Jamere Jackson


Part
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Part
05

Media Scan - Hertz

In key findings, 10 unique stories about the Hertz Company activities have been provided.

Heartz Global Launched Heartz My Car
  • Increase in a Hertz Company share value after an introduction of a new subscription service called Heartz My Car.
Heartz Global Extends Motorsponsihrship
  • Hertz Company has declared prolonged sponsoring of a Hendrick motorsports team in Nascar racing.
Heartz Falsely Reports About Stolen Cars
  • The local news station has discovered that there were multiple situations where the Hertz's clients had problems with Uniformed services because the company wrongly reported the theft of its cars.
Heartz Facilitates Biometric Scanning at Car Rental Checkouts
The Latest Satisfaction Rankings Announced Heartz Global as the Top Car Rental Agency
  • Hertz Company was ranked #1 in trust ranking among the car rental companies.
Heartz Car & the Misleading Toll Transactions Settelements
  • Hertz Company has acquired a court agreement after having revealed the fact of extra costs for the cashless toll transactions.
Heartz & the Accounting Scandal
  • The company is trying to retrieve 70M USD after the accounting scandal in 2014 (fraudulent accounting techniques).
Heartz' 100th Anniversary Car Being Sold for $90,000
Heart Charged by SEC for Inaccurate Financial Reporting
  • Hertz Company has agreed to pay 16M $ after the accounting scandal in 2014.
Heartz Declared as the Favioverte Rental Car Company

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Part
06

Hertz - Competitors

The research team has compiled a list of companies that offer the same services as Hertz to determine who are their competitors. Their true competitors include Enterprise, National Car Rental, Alamo, Avis, Budget, Dollar, and Thrifty.

Enterprise

  • Enterprise offers car and truck rentals, as well as car sharing and car sales. Their younger-driver supplementary rate is also half to other competitors, not to mention that the company does special rates for those who move or live somewhere medium-term for work.
  • Both companies offer car rental services, which is the reason why Enterprise was chosen. Not only that, the company gets rid of additional charges after the average rate, saving the customer money.
  • More information about the company can be found here.

National Car Rental

Alamo

  • The company offers unlimited free mileage as standard with an Insider free program that gives customers a guaranteed discount. Also, the cost of a second driver is less than their competitors. On the other hand, Alamo gives National Education Association members an extra day free when they rent for five days or more.
  • Alamo Rent A Car provides car rental services to international travelers, offering member discount to those who register on their website. The company was chosen as a competitor due to product similarity.
  • More information on the company can be found here.

Avis

Budget

Dollar

Thrifty

  • The company offers some of the lowest prices in the industry with location specific offers, as well as an online check-in system.
  • Although located in Miami, Thrifty provides car rental services as well, which is the reason why the company was chosen.
  • Thrifty's website can be found through the following link.

Research Strategy

The research team skimmed through Hertz's website to have a better idea of what the company has to offer. Then, the next step was to research which companies offered car rental services as well, and hence, we found an article with the best companies, as well as their websites.

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Part
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Hertz - Competitors: The Findings Part One

Competitive advantages for Enterprise include its broad market reach as it has over 7,700 various locations around the world and its affiliate programs that help to develop brand loyalty. Meanwhile, a perceived weakness for the company is that its CarShare services are not available in all U.S. states and is limited to just 35 states in the country.


Enterprise

Competitive Advantage

  • With over 7,700 different locations and around "5,800 fully staffed neighborhood and airport branch offices located within 15 miles of 90% of the U.S. population," Enterprise has a wider market reach than its competitors in the nation.
  • Enterprise is the official partner of the NHL, or the National Hockey League, as well as the NHLPA (National Hockey League Players' Association), which are both professional hockey entities. The groups have millions of fans, which is a noticeable advantage for Enterprise as they provide broader exposure to existing and potential customers.
  • In 2019, Enterprise received several awards and recognitions. These awards included being named "One of the World’s Best Car Rental Companies," by Travel + Leisure Magazine and being recognized as the "Best Travel Agent Support and Highest Client Satisfaction" during the TravelAge West WAVE Awards, among many others.
  • The company has affiliate programs in which customers can drive car rentals to earn money. An affiliate program can help increase traffic and grow the online audience. It is also an effective way to create brand loyalty, as the company's affiliate marketers will have a vested interest in its success.

Strengths

  • Enterprise is recognized internationally and is renowned for its excellent customer service, affordable pricing, and neighborhood convenience.
  • Enterprise has exceptional community engagement. The company provides support to communities such as tree planting. It has donated more than $60 million to assist with food insecurity globally, and it granted another $1 million to "the American Red Cross Annual Disaster Giving Program to support disaster relief services."
  • They also provide country-based websites for their locations outside of the United States, which helps presents customers with a better experience as the sites are appropriately designed for the corresponding country.
  • Aside from car rentals, it also provides truck rentals, offers an exotic car collection, sells cars, grants assistance in joining or establishing a local carpool, and a car-sharing program.

Perceived Weaknesses

  • CarShare is only available in 35 different states in the United States compared to its competitors.
  • Enterprise Flex-E-Rent offers specialist vehicle, HGV, and van hires on terms that suit a customer's business, which supplies them with a fixed term solution and short term and flexible hires. However, this only limited to the United Kingdom.
  • There are also age restrictions for renting certain cars. Younger individuals will be unable to rent exotic vehicles as the minimum age requirement for the driver is 25.

Revenue

  • Enterprise Holdings, Inc. is the parent company of Enterprise Rent-A-Car, as well as National Car Rental and Alamo Rent A Car. Enterprise Holdings generates an annual revenue of around $25.9 billion.

Countries

  • In Africa and the Middle East, Enterprise offers its services in the following nations: Israel, Jordan, Kuwait, Oman, Qatar, Réunion, and Saudi Arabia.
  • Meanwhile, in Asia and the Pacific, Enterprise offers its services in the following nations: Australia, China, Guam, New Zealand, Palau, and Saipan.
  • In the Americas, Enterprise offers its services in the following nations: Antigua and Barbuda, Argentina, Aruba, Barbados, Belize, Brazil, Canada, Cayman, Islands, Chile, Colombia, Costa Rica, Curacao, Dominican Republic, Ecuador, El Salvador, French Guiana, Guadeloupe, Guatemala, Guyana, Honduras, Jamaica, Martinique, Mexico, Nicaragua, Panama, Paraguay, Peru, Saint Barths, St. Maarten, Suriname, Tortola, Trinidad and Tobago, the United States, and Uruguay.
  • In Europe, Enterprise offers its services in the following nations: Albania, Armenia, Austria, Belgium, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Georgia, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Luxembourg, Moldova, Montenegro, the Netherlands, North Macedonia, Norway, Poland, Portugal, Romania, Serbia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, and the United Kingdom.



Research Strategy:

We first searched through the company's website and other sites that share news and updates to gather information on its competitive advantage, strengths and weaknesses, and locations. We found several details on the website for Enterprise Holdings, Inc., the parent company of Enterprise. However, we were unable to find revenue information for each competitor. We employed the research strategies outlined below to find the missing information.

For information on its revenue, we first searched for its financial reports, which typically contain revenue figures. During our research, we came across Enterprise's parent company, Enterprise Holdings Inc. Nonetheless, the parent company did not provide any revenue data specifically for Enterprise itself but for Enterprise Holdings Inc. as a whole (annual global revenue).

Next, we explored company databases that provide information on private and public entities, including Crunchbase, Craft, and Owler. Utilizing the platforms' data explorer, we concluded that they did not publish any relevant financial details on Enterprise. Though Crunchbase and Owler showed financial data for the company, these were merely rough estimates and not reliable. Craft provided general financial information on Enterprise Holdings Inc. and not specifically for Enterprise alone.

We then attempted to triangulate its revenue by searching through government websites, industry publications, and articles for useful data points. However, we were unable to locate any statistics or data pertaining to revenue to assist us with our triangulation.

As Enterprise Holdings is a privately owned business, it is not obligated to disclose its revenues (overall or for each brand/product line) to the public. Additionally, Enterprise Holdings provides access to detailed financial information for authorized users and stakeholders can request access for credit purposes. Throughout our research, we came across some paywalled reports (links provided below) that may contain this information.

Paywalled Reports Links

  • Here is a link to a Statista report that is behind a paywall.
  • Here is a link to a Crunchbase report that is behind a paywall.
  • Here is a link to a report from Hoovers that is behind a paywall.
Part
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Part
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Hertz - Competitors: The Findings Part Two

National Car Rental has a footprint in three countries in North America, 35 in Europe, four in the Africa & Middle East region, eight in the Asia & Pacific region, 10 in South America, and 18 countries in the Central America and Caribbean region. One of its competitive advantages is that it operates as a premium car rental company targeting business travelers. Alamo differentiates itself by offering everyday low rental rates to popular travel destinations. Strengths for Alamo include its strong partnerships as the company serves as the official rent a car of Disneyland Resort and Walt Disney World Resort. Detailed information is below.

National Car Rental

Competitive Advantage

  • The competitive advantage for National Car Rental is that it operates as a premium car rental company targeting business travelers. It also uses a Control Center that offers quick service with a wide choice of vehicles, from compact cars to cargo vans, and offers a faster and more convenient experience for those who rent a vehicle through its Emerald Club.
  • The company also provides a government program in the U. S where officials from government agencies and organizations access special benefits, such as discounts, when traveling for work or leisure.

Strengths

  • One strength for the company is in numbers as it has over 1,500 worldwide rental locations, which boosts its finances and balance sheet. Another strength is that as a premium internationally recognized rental car company, it boosts its revenue which can help it to invest in new offerings, in addition to high brand awareness by consumers.
  • The company has won numerous awards in the industry such as recently being ranked number one, for the sixth year in a row, on Travel + Leisure Magazine’s World’s Best Awards.

Weaknesses

  • A perceived weakness for the company is that although it differentiates its offerings, it still provides similar products and services to many of its competitors which can easily be replicated by other companies.

Revenue

  • National Car Rental has a revenue of $10+ billion per year.

Locations

  • National Car Rental has a footprint in three countries in North America, which are the United States, Canada, and Mexico. It also operates in 35 countries in Europe which are Albania, Austria, Belgium, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, France, Georgia, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Luxembourg, Macedonia, Moldova, Montenegro, Netherlands, Poland, Portugal, Romania, Serbia, Slovakia, Slovenia, Spain, Switzerland, and Turkey.
  • In the Africa & Middle East region, the company operates in four locations, namely Israel, Qatar, Réunion, and the United Arab Emirates. In the Asia & Pacific region, the company operates in eight countries, namely Australia, Guam, Japan, New Zealand, Northern Mariana Islands, Palau, Philippines, and Thailand.
  • In South America, National Car Rental operates in 10 countries which are Argentina, Brazil, Chile, Colombia, Ecuador, Guyana, Paraguay, Peru, Suriname, and Uruguay. In the Central America and Caribbean region, the company has a footprint in 18 countries which are Aruba, Belize, British Virgin Islands, Cayman Islands, Costa Rica, Curacao, Dominican Republic, El Salvador, Guadeloupe, Guatemala, Honduras, Jamaica, Martinique, Nicaragua, Panama, Saint Barthélemy, Sint Maarten, and in Trinidad and Tobago.

Alamo

Competitive Advantage

  • Alamo differentiates itself by offering everyday low rental rates and hassle-free customer experience to popular travel destinations.
  • The company also allows customers to register for free as an "Alamo Insider for a guaranteed discount and standard unlimited free mileage.

Strengths

  • Strengths for Alamo include the company being an internationally recognized brand that offers rented vehicles to airport leisure travelers.
  • The other strength is its strong partnerships as the company serves as the official rent a car of Disneyland Resort and Walt Disney World Resort. Finally, Alamo operates self-serve kiosks at major U.S. airport locations to help customers quickly check-in and collect their rented vehicles.

Weaknesses

  • Alamo operates in an industry with high competition and many new entrants. Its weakness is that it has not been able to contain new entrants into the market and as such has lost a small market share in the niche categories.

Revenue

  • The company had $1.01 Billion in revenue in 2018.

Locations

  • Alamo has a footprint in North America, particularly in the United States, Canada, and Mexico. It also operates in Australia, Asia, including in China, Korea, and Japan.
  • The company has a footprint in Europe including in Denmark, Finland, France, Germany, Spain, Italy, Norway, Switzerland, Sweden, the United Kingdom, Greece, Cyprus, and Turkey.
  • It is also in Central America and South America including in Nicaragua, in the Caribbean region including in Jamaica, and in the Middle East region including in Israel, Jordan, Saudi Arabia. The company operates in Africa, particularly in South Africa, and in Guam and Reunion.

Research Strategy

We found all the information required apart from the exact annual revenue for National Car Rental which was given as $10+ billion by Glassdoor. To find the exact revenue, our first strategy was to search for the relevant information in the financial section of National Car Rental's website. However, this strategy was not successful as the only information we found on the website had to do with how to rent a vehicle and the offers and discounts available.

Our second strategy was to search for the financial report of the company as we thought that we could find the annual revenue listed there. We did not find this document and it seems that the company does not make it public. Our third strategy was to search for the information in reputable financial reports and databases such as Forbes, Business Insider, Crunchbase, and Glassdoor.

No exact revenue was found using this strategy. Most articles that we found stated that National Car Rental was owned by Enterprise Holdings and went ahead to give the revenue of the parent company. We found the exact revenue listed on Owler as $15 Million but since this is not a reputable source as per Wonder standards, we chose not to use the figure and instead listed the approximate revenue from Glassdoor.
Part
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Part
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Hertz - Competitors: The Findings Part Three

Avis offers advanced services to its clients, while Budget offers the lowest rental fees in the industry. More details have been outlined below.

AVIS

Competitive advantage


Strengths


Weaknesses

  • Also, the company's reward program requires 700 points to reach a free car rental, which is the most of any company in the market.

Company size


BUDGET

Competitive advantage


Strengths

  • Budget has 1,300 locations across the United States, mainly at airports.
  • The brand has a relatively strong social media presence, boasting 22,700 followers on Twitter, 104,643 followers on Facebook and 12,500 followers on Instagram.

Weaknesses


Company size

  • Budget saw $3.09 billion in revenues in 2018 (calculated).

RESEARCH STRATEGY

In order to identify revenues of both Avis and Budget, we examined annual reports of Avis Budget Group, which is the parent company of both brands. There, we found the total revenue of the company, as well as data on how much Avis and Budget contributed to this revenue. We calculated the revenues for Avis and Budget as follows:

Avis Budget Group saw $9.1 billion in revenues in 2018.

Avis contributed 58% to revenues of the Avis Budget Group. This means Avis saw $5.28 billion in revenues in 2018 (0.58*9.1 billion).

Budget contributed 34% to revenues of the Avis Budget Group. This means Budget saw $3.09 billion in revenues in 2018 (0.34*9.1 billion).
Part
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Part
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Hertz - Competitors: The Findings Part Four

Two of Hertz's competitors, Dollar Car Rental and Thrifty Car Rentals, are among the top eight car rental companies, according to TripAdvisor's report. Dollar Car Rental's revenue as of Q3 2018 was $1.5 billion, while Thrifty's revenue in Q2 2018 was $300 million.

Dollar Car Rental

Competitive Advantage

  • Dollar Car Rental's offering of a full fleet of rental cars, starting from basic economy cars to pick-ups and its rewards program for customers and business travelers alike, are some significant competitive advantages of the company.
  • Also, the company's provision of special rental car offers, low everyday rates, along with business travel and vacation planning services, contribute to the competitive advantages propelling Dollar Rental Car.
  • The company prides itself on its fundamental principle, which hinges on its philosophy to deliver exceptional services to customers. Dollar passes this principle to every employee via its unique "Customer Driven training program."

Strengths

Perceived Weaknesses

  • Dollar Car Rental is a smaller company compared to other rental companies. Due to this, the company is not as widespread as bigger rental services.
  • A significant weakness of Dollar is its lack of provision for home pick-up services.
  • According to the reviews of the company on Top Ten Reviews, Dollar has questionable customer services, as most reviewers cited the lack of attention they received while doing business with the company.

Revenue

Footprints

Thrifty Car Rentals

Competitive Advantage

  • Thrifty Car Rental's competitive advantage revolves around its offering of some of the lowest prices in the rental industry, which also comes with location-specific offers and an online check-in system.
  • Among cost-conscious leisure and business travelers, Thrifty has gained a reputation as one of the most widely recognized brands. This positioning could make the company the go-to brand for such customers.

Strengths

Perceived Weaknesses

  • The customer service offered by the company is not great, according to TripAdvisor's report.
  • As per customer reviews of the company on Consumer Affairs, Thrifty does not perform well in its charging accuracy, as well as other inconsistencies related to how and why they deduct money from customers.

Revenue

Footprints

Research Strategy:

We investigated the directories of two of Hertz's competitors, Dollar Car Rental and Thrifty Car Rentals, looking for information about each company's competitive advantage, strengths, revenue, and others. This research yielded insights into their strengths, competitive advantage, and footprints, but there was no information on their perceived weaknesses and revenues. Therefore, we examined reports by company intelligence tools such as ZoomInfo, CrunchBase, and others and found data about their revenues. Furthermore, to identify perceived weaknesses, we investigated reports by media and customer review portals, including TripAdvisor, Top Ten Reviews, Consumer Affairs, and others.

Sources
Sources

From Part 05
Quotes
  • "Hertz Global Holdings stock jumped more than 8% Tuesday after the car rental company announced a new vehicle-subscription service called Hertz My Car, which will launch as a pilot program in Atlanta and Austin, Texas."
Quotes
  • " Hertz (NYSE: HTZ), one of the world’s largest vehicle rental companies, has extended its sponsorship of 12-time NASCAR Cup Series champions Hendrick Motorsports and the No. 24 Chevrolet Camaro ZL1 team of driver William Byron."
Quotes
  • "CLEVELAND — Our 5 On Your Side investigation found drivers who said they were detained, arrested and thrown in jail after the rental car company, Hertz, falsely reported their rental cars as stolen."
Quotes
  • "Biometric screening is expanding to the rental car industry. Hertz said Tuesday it's teaming up with Clear, a maker of biometric screening kiosks found at many airports, in an effort to slash the time it takes to pick up a rental car."
Quotes
  • "New J.D. Power rankings measuring satisfaction among car rental agencies are out, and there’s a new leader of the pack. This year, Estero, Florida-based car rental company Hertz was ranked as the most satisfying car rental agency ahead of seven competitors in the crowded space. "
Quotes
  • "Dollar Rent a Car and Thrifty, car rental companies owned by Estero-based Hertz, reached a court agreement with the Florida attorney general for adding charges to customers for cashless tolls throughout the state."
  • "The investigation revealed that Dollar and Thrifty did not make it clear that customers would be charged an additional $15 per cashless toll. Customers could rack up $105 in additional charges."
Quotes
  • "Hertz Global Holdings Inc. is demanding that ex-Chief Executive Officer Mark Frissora and other former senior managers return at least $70 million of incentive compensation for their roles in an accounting scandal five years ago."
  • "The car-rental chain accused the former executives of pressuring employees to use fraudulent accounting techniques to inflate income and earnings, according to a March 25 lawsuit. The alleged misconduct spurred a federal investigation and prompted Hertz to restate several years of financial results, costing the firm more than $200 million."
Quotes
  • "The rental car company ordered 100 of the 650 hp sports cars last year and will soon be offering them for resale at a price higher than you’d pay for a brand new one."
  • "The company told Jalopnik that the yellow and black automatic transmission coupes will likely sell for $90,000 to $100,000 each, compared to a starting price of $82,990 for a brand new yellow one with a stick."
Quotes
  • "Hertz Global Holdings Inc. and its wholly-owned subsidiary The Hertz Corp. agreed to pay $16 million to settle fraud and other charges brought by the Securities and Exchange Commission stemming from multiple company filings containing inaccurate financial statements and disclosures."
  • "In July 2015, Hertz restated its financial results for prior periods, identifying $235 million in previously reported pre-tax income based on treatment of items that was not consistent with generally accepted accounting principles (GAAP)."
Quotes
  • "Millennials have named Hertz (NYSE: HTZ) as their favorite global car rental company in the 2019 Trazees Awards."
  • "Hertz moved up from the second spot in the car rental category from last year in the Trazees Awards which are voted on annually by Millennial readers of trazeetravel.com, the sister web publication to Global Traveler, globaltravelerusa.com and whereverfamily.com. "
From Part 08
Quotes
  • "National Car Rental is a premium, internationally recognized brand serving the daily rental needs of the frequent airport traveler throughout the world."
Quotes
  • "National offers discounted rates for U.S. Government travelers on official business with authorized travel orders. Benefits include full Loss Damage Waiver, and no fee for additional drivers or underage drivers. Special off-duty leisure travel rates are also available. "
Quotes
  • "National Car Rental brand is ranked No. 1 on Travel + Leisure Magazine’s World’s Best Awards for the sixth year in a row."
Quotes
  • "Enterprise Holdings and its affiliate Enterprise Fleet Management, which currently manage more than 2 million vehicles and employ 100,000 worldwide, accounted for $24.1 billion in revenue in fiscal year 2018. "
Quotes
  • "Alamo Rent A Car, the largest car rental provider to international travelers visiting North America, is a value-oriented, internationally recognized brand serving the rental needs of airport leisure travelers."
Quotes
  • "It has a huge variety of vehicles to rent, from little compact cars to Chevy cargo vans. National’s offerings and programs are aimed especially at business travelers, with companies taking advantage of the company’s business rental program."
Quotes
  • "Net sales and net income for both the fourth quarter and full year 2018 were at record levels for Alamo Group, marking the first time the Company achieved revenue exceeding $1.0 billion."