Profile: Hertz Global Holdings Inc (HTZ.N)
23 Sep 2016
Herc Holdings Inc., formerly Hertz Global Holdings, Inc., incorporated on July 15, 2005, is a holding company. The Company is engaged principally in the business of renting and leasing of cars through its Hertz, Dollar, Thrifty and Firefly brands, and equipment through its Hertz Equipment Rental brand. The Company operates through four segments: U.S. Car Rental, International Car Rental, Worldwide Equipment Rental and All Other Operations. The Company operates over 9,980 corporate and franchisee locations in North America, Europe, Latin America, Africa, Asia, Australia, the Middle East and New Zealand. The Company's brands maintain separate airport counters, reservations and reservation systems, marketing and all other customer contact activities. The Company's Hertz brand has approximately 8,510 corporate and franchisee locations in over 150 countries. Its Dollar and Thrifty brands combined have approximately 1,345 corporate and franchisee locations in over 75 countries and its Firefly brand has approximately 100 corporate and franchisee locations in over 20 countries. The Company's equipment rental business is operated through the Hertz Equipment Rental brand from over 280 branches of which approximately 270 are in the United States and Canada, and the remainder are located in the United Kingdom, China and through joint venture arrangements in Saudi Arabia and Qatar.
The Company also operates its equipment rental business through franchisee owned branches in Greece, Iceland, Portugal and Corsica in Europe; in Afghanistan in the Middle East; in Panama in Central America, and in Chile in South America. In addition to car rental and equipment rental businesses, it provides integrated fleet leasing, financing, telematics and fleet management solutions for corporate fleets in the United States and Canada through its Donlen Corporation (Donlen) subsidiary. Donlen is a provider of fleet leasing and management services for corporate fleets. Products offered by Donlen include Vehicle financing, acquisition and remarketing; License, title and registration; Maintenance consultation; Fuel management; Accident management; Toll management; Telematics-based location, driver performance and scorecard reporting, and Lease financing. Donlen's leased fleet consists primarily of passenger cars, cargo vans and light-duty trucks. Donlen provides services to leased and non-leased fleets consisting of fuel purchasing and management, preventive maintenance, repair consultation, toll management and accident management. Additionally, Donlen manages license and title, vehicle registration and regulatory compliance. Donlen's telematics products provide better visibility and reporting over driver and vehicle performance.
The Company has approximately 1,635 airport rental locations in the United States and over 1,320 airport rental locations internationally. Its international car rental operations have the Company-operated locations in Australia, Belgium, Brazil, Canada, the Czech Republic, France, Germany, Italy, Luxembourg, the Netherlands, New Zealand, Puerto Rico, Slovakia, Spain, the United Kingdom and the United States Virgin Islands. It has approximately 2,800 off airport locations in the United States and 4,225 off airport rental locations internationally. Its off airport rental customers include people preferring to rent cars closer to their home or place of work for business or leisure purposes, as well as those needing to travel to or from airports. The Company's off airport customers also include people referred by, or whose rental costs are being wholly or partially reimbursed by, insurance companies following accidents in which their cars were damaged, those expecting to lease cars that are not yet available from their leasing companies and those needing cars while their vehicle is being repaired or is temporarily unavailable for other reasons.
The Company rents a range of makes and models of cars. It rents cars on an hourly (in select markets), 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. The Company also allows one-way rentals from and to certain locations. At airport rental locations, as well as at some off airport locations, customers participating in the Company's Hertz Gold Plus Rewards program are able to rent vehicles in an expedited manner. Hertz also offers a Mobile Gold Alerts service, also known as Carfirmations, through which a short message service (SMS) text message and/or e-mail is sent with the vehicle information and location, with the option to choose another vehicle from their smart phone prior to arrival.
The Company also offers Hertz e-Return, which allows customers to drop off their car and go at the time of rental return. Additionally, in select locations customers can bypass the rental line through the Company's ExpressRent Kiosks. The Company offers a car-sharing membership service, Hertz 24/7, which rents cars by the hour and/or by the day, at various locations internationally, primarily in Europe and Australia. Members reserve vehicles online, then pick up the vehicles at various locations, such as a university, corporate campus or a retailer, without the need to visit a Hertz rental office. Members are charged an hourly or daily car-rental fee, which includes fuel, insurance, round the clock roadside assistance and in-car customer service. The Company operates a peak rental fleet in the United States of approximately 514,000 cars and a peak rental fleet in its international operations of approximately 189,000 cars.
U.S. Car Rental
The Company's U.S. Car Rental segment is engaged in rental of cars, crossovers and light trucks, as well as ancillary products and services, in the United States. The Company maintains a substantial network of company-operated car rental locations in the United States. The Company also has franchisees and associates that operate rental locations under its brands throughout the United States. It offers an optional liability insurance product, Liability Insurance Supplement (LIS) that provides vehicle liability insurance coverage.
International Car Rental
The Company's International Car Rental segment is engaged in rental and leasing cars, crossovers and light trucks, as well as ancillary products and services, internationally. The Company has a network of company-operated car rental locations internationally, most of which are in Europe. Its franchisees and associates also operate rental locations in approximately 150 countries and jurisdictions, including many of the countries, in which the Company has Company-operated rental locations.
Worldwide Equipment Rental
The Company's Worldwide Equipment Rental segment includes rental of industrial, construction, material handling and other equipment. Its equipment rental subsidiary Hertz Equipment Rental Corporation (HERC) has a portfolio of equipment for rent, including aerial, earthmoving, material handling and specialty equipment, such as air compressors, compaction equipment, construction-related trucks, electrical equipment, power generators, contractor tools, pumps and lighting, studio and production equipment. HERC also sells new and used equipment and contractor supplies.
All Other Operations
The Company's all other operations segment includes the Company's Donlen operating segment, which provides fleet leasing and fleet management services, and other business activities. Donlen's fleet management programs include administration of preventive maintenance, advisory services, and fuel and accident management along with other complementary services. Additionally, Donlen provides a specialized consulting and technology expertise that allows it to model, measure and manage fleet performance.
The Company competes with Avis Budget Group, Inc., Enterprise Holdings, Europcar, Sixt AG, Localiza, Unidas, Movida, United Rentals, Inc., Ashtead Group plc, H&E Equipment Services, Inc., Aggreko, Far East Rental, LiLuo, CAT Dealer, Lavendon Group, Byrne Equipment Rental Solutions, GE Capital, Automotive Resources International, Element Financial Corporation, Wheels, Inc. and LeasePlan Corporation N.V.
Hertz Global Holdings Inc
27500 Riverview Center Blvd
BONITA SPRINGS FL 34134-4325
Company Web Links
- BRIEF-Hertz Global Holdings receives $2 bln proceeds from separation of equipment rental business
- Hertz signs rental deals with Uber and Lyft
- Hertz signs rental deals with Uber and Lyft
- BRIEF-Hertz Global to supply Lyft with rental cars in U.S.
- BRIEF-Hertz Global to supply Uber with rental cars in U.S.