Profile: Hertz Global Holdings Inc (HTZ)
15 Feb 2019
Hertz Global Holdings, Inc. (Hertz Global), incorporated on August 28, 2015, is a holding company. The Company owns Rental Car Intermediate Holdings, LLC, which owns Hertz Corporation (Hertz), Hertz Global's primary operating company. The Company operates through three segments: U.S. Car Rental (U.S. RAC), International Car Rental (International RAC) and All Other Operations. As of December 31, 2016, the Company operated its vehicle rental business globally through the Hertz, Dollar and Thrifty brands from approximately 9,700 corporate and franchisee locations in North America, Europe, Latin America, Africa, Asia, Australia, The Caribbean, 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 Dollar brand's main focus is to serve the airport vehicle rental market, which consists of business and leisure travelers. The majority of its locations are at or near airport facilities. Dollar operates primarily through company-owned locations in the United States and Canada, and also globally licenses to independent franchisees which operate as a part of the Dollar brand system. Thrifty is the brand for vacationers, tourists and adventure lovers. Thrifty serves both the airport and off airport markets primarily through company-owned locations in the United States and Canada, and also globally licenses to independent franchisees which operate as part of the Thrifty brand system.
As of December 31, 2016, the Company had approximately 1,600 airport rental locations in the United States and approximately 1,400 airport rental locations internationally. Its international vehicle rental operations have company-operated locations in Australia, Belgium, 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. As of December 31, 2016, the Company had approximately 2,600 off airport locations in the United States and approximately 4,100 off airport rental locations internationally. Its off airport rental customers include people who prefer to rent vehicles closer to their home or place of work for business or leisure purposes, as well as those needing to travel to or from airports. Its off airport customers also include people who have been referred by, or whose rental costs are being wholly or partially reimbursed by, insurance companies following accidents in which their vehicles were damaged, those expecting to lease vehicles that are not yet available from their leasing companies and replacement renters.
The Company rents a range of makes and models of cars. It rents vehicles 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. During the year ended December 31, 2016, the Company operated a peak rental fleet in the United States of approximately 515,900 vehicles and a peak rental fleet in its international operations of approximately 196,600 vehicles.
U.S. Car Rental
The Company's U.S. RAC segment is engaged in the rental of vehicles, such as cars, crossovers and light trucks, as well as ancillary products and services, in the United States and consists of the Company's United States operating segment. The Company maintains a 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 RAC segment is engaged in rental and leasing of vehicles, such as cars, crossovers and light trucks, as well as ancillary products and services, internationally and consists of the Company's Europe and Other International operating segments. The Company has a network of company-operated car rental locations internationally, most of which are in Europe. As of December 31, 2016, the Company's franchisees and associates also operated rental locations in approximately 150 countries and jurisdictions, including many of the countries, in which the Company had Company-operated rental locations.
All Other Operations
The Company's All Other Operations segment includes the Company's Donlen Corporation (Donlen) business, which provides fleet leasing and fleet management services, and other business activities. Donlen provides a range of fleet leasing, financing, telematics and fleet management services to commercial fleets in the United States and Canada. 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 vehicles, cargo vans and light trucks.
The Company competes with Avis Budget Group, Inc., Enterprise Holdings, Europcar, Sixt AG, GoldCar, Fast Rent a Car, Localiza, Unidas, Movida, Automotive Resources International, Element Financial Corporation, Wheels, Inc. and LeasePlan Corporation N.V.
Hertz Global Holdings Inc
8501 Williams Rd Fl 3
ESTERO FL 33928-3325