Profile: Hertz Global Holdings, Inc. (HTZ)

Hertz Global Holdings, Inc. (Hertz Holdings), incorporated on August 31, 2005, is a general use car rental brand and is engaged in equipment rental businesses in the United States and Canada. The Company and its independent licensees and associates accept reservations for car rentals at approximately 8,100 locations in approximately 145 countries. The Company maintains airport car rental brand market share, by overall reported revenues, in the United States and at the 42 major airports in Europe where it has company-operated locations and data regarding car rental concessionaire activity is available. In the Company’s equipment rental business segment, it rents equipment through approximately 345 branches in the United States, Canada, France, Spain and China, as well as through its international licensees. It operates in two segments: car rental and equipment rental. In April 2008, it acquired the vehicle rental businesses of its franchise partner, Rentex Autopujcovna a.s. in the Czech Republic and of Rentex's subsidiary, Car Solutions s.r.o. in Slovakia. In April 2009, the Company completed the acquisition of Advantage Rent A Car assets. In July 2009, Matthews Equipment Limited, Hertz Holdings’ Canadian equipment rental subsidiary, acquired assets of the equipment rental business conducted by J.D. Irving, Limited under the name Irving Industrial Rentals (IIR).

Car Rental

The Company’s company-operated rental locations are those through which the Company, or an agent of its, rent cars that it owns or leases. For the year ended December 31, 2008, it derived approximately 69% of its worldwide car rental revenues from airport locations. The Company’s licensees and associates also operate rental locations in over 140 countries and jurisdictions, including most of the countries, in which it has company-operated rental locations. As of December 31, 2008, the Company had approximately 1,960 staffed rental locations in the United States, of which approximately one-fourth were airport locations and three-fourths were off-airport locations, and it regularly rents cars from approximately 1,130 other locations that are not staffed. As of December 31, 2008, it had approximately 1,200 staffed rental locations internationally.

The Company rents cars on an hourly, daily, weekend, weekly, monthly or multi-month basis, with rental charges computed on a limited or unlimited mileage rate, or on a time rate plus a mileage charge. During 2008, the Company introduced Connect by Hertz, a car-sharing service, which rents cars by the hour at about two dozen locations in New York, London, Paris and Park Ridge, N.J. Connect by Hertz allows customers to sign up for the service and start renting cars by the hour. In addition to renting cars, in Germany, it also rents trucks of approximately eight tons and over, including truck tractors. During 2008, the Company operated a peak rental fleet in the United States of approximately 317,100 cars and a combined peak rental fleet in its international operations of approximately 181,000 cars, in each case exclusive of its licensees' fleet.

In this segment the Company competes with Avis Budget Group, Inc., Enterprise and Dollar Thrifty Automotive Group, Inc.

Equipment Rental

HERC rents a range of earthmoving equipment, material handling equipment, aerial and electrical equipment, air compressors, generators, pumps, small tools, compaction equipment and construction-related trucks. HERC also derives revenues from the sale of new equipment and consumables. HERC offers a range of equipment for rental; major categories include earthmoving equipment, material handling equipment, aerial and electrical equipment, air compressors, pumps, generators, small tools, compaction equipment and construction-related trucks. As of December 31, 2008, HERC operated 345 equipment rental branches, of which 222 were in 38 states within the United States, 36 were in eight provinces within Canada, 80 were in France, six were in Spain and one was in China.

In this segment the Company competes with United Rentals, Inc., RSC Equipment Rental, Inc., Sunbelt Rentals, Home Depot Rentals, NES Rentals, Loxam, Kiloutou, GAM and Hune.