Hertz Takes Over Car Hire Rival
Car hire giant Hertz announced the takeover of competitor Dollar Thrifty today in what is believed to be a $1.2 billion deal.
Described by Hertz chairman Mark Frissora as “an excellent strategic fit,” the takeover provides his company with an extra 1,550 car hire locations across the world, bringing its total number to nearly 10,000.
Mr Frissora declared that “together we will be able to compete even more effectively and efficiently against other multi-brand car rental companies, offering customers a full range of rental options in the US between the Hertz, Dollar, Thrifty and Advantage brands.”
However, it is not just going to be to the advantage of car hire customers enjoying USA holidays, he insisted, pointing out that “Dollar Thrifty also has a strong international presence,” which would help enhance Hertz’s global presence. The merger will allow Hertz to consolidate their strategy of offering good value car hire in Europe and other tourist destinations.
The Hertz boss went on to reveal that the company has already spotted a potential $180 million to be saved by combining its IT and procurement systems, as well as by rationalising both fleets of vehicles. Mr Frissori said that this would lower costs – raising the prospect of lower prices for his customers.
For his part, Dollar Thrifty president Scott Thompson described the prospect of a full merger with Hertz as “very compelling.” He added: “The combination of Dollar Thrifty with a larger company like Hertz will provide Dollar Thrifty with greater resources and the technology needed to expand our value focused leisure brands.
Car Hire News posted by 
on 27 April 2010
Stock Tickers: HTZ
car hire, USA holidays
http://www.travelmole.com/stories/1142027.php
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