Posts Tagged ‘mark p frissora’

Flexicar due to sign acquisition deal with Hertz

Friday, October 29th, 2010

Flexicar, the Australian car sharing scheme based in Melbourne, is to begin operating under the Connect by Hertz banner. The US car rental giant is due to finalise acquisition in December, and the operation will be the company’s first venture in the Australian market. Hertz CEO and chairman, Mark P Frissora, said Connect by Hertz is key to the firm’s strategy of offering rental solutions to as wide an audience as possible.

Those who are currently members of the Flexicar scheme will find themselves plugged in to a network which includes cities around the globe like London, New York, Paris and Madrid. Senior vice president for global sales at Hertz, Robert Stuart, said the acquisition of Flexicar would give Connect an immediate customer base in residential neighbourhoods, on university campuses and in business districts.

Flexicar’s founder and CEO, Monique Conheady, will remain in charge of operations in Australia. She said that coming under the Hertz umbrella would allow the company to provide customers with access to more vehicles and improved technology.

Hertz will be able to tap into Flexicar’s brand awareness and regional presence to grow throughout Australia. Members of the Flexicar scheme who enrol in the Connect by Hertz product will be able to take advantage of keyless access to any car in the fleet by using a smart-chip enabled card.

Customers will be able to utilize hands-free audio access to a call centre representative meaning that help and advice is always available. Vehicles will also be iPod enabled and feature NeverLost navigation technology.

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Hertz adds four more states to Rent2Buy scheme

Friday, September 17th, 2010

Rent2Buy, Hertz’s used car sales programme, has been launched in four new states in the US. Customers in Minnesota, Oklahoma, Nevada and Oregon will now have the opportunity of choosing a car from Hertz’s list of second hand vehicles, taking it for a test drive and deciding whether the vehicle is right for them.

Customers who choose to buy a Rent2Buy vehicle after testing it for a period of up to three days need do nothing more than contact the Hertz dealership they collected the car from and agreeing to pay the listed price. The car is then theirs to keep and the rental fee is waived.

Those finding that, after spending a period of time with the car, it is not the right vehicle for them have simply to return the car to the Hertz rental station and pay the rental fee, calculated on the period of time they took the vehicle for.

The advantage of using the Rent2Buy scheme includes knowing that during its lifetime the vehicle has been cared for by trained Hertz professionals. Hertz also offers significant savings to customers on a wide selection of makes and models including Mercedes, Nissan, Honda, Ford and BMW.

Chairman and CEO of Hertz, Mark P Frissora, said he was delighted to be able to offer the Rent2Buy programme to more people in more states. He added that by expanding the used car scheme Hertz was able to give its customers wider choice and better value for money as well as a premium service when it came to purchasing a used car.

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CEO says Hertz to save money with Dollar Thrifty purchase

Thursday, August 5th, 2010

Hertz Global Holdings Inc, Chief Executive Officer Mark P Frissora announced that his firm expects to save $180 million after the acquisition of Dollar Thrifty Automotive Group, if the proposed merger ultimately comes to fruition. Hertz made an offer of $1.2 billion to purchase the firm earlier this year, although rival Avis has also shown interest, posting its own offer of $1.3 billion in the hopes of acquiring Dollar Thrifty.

According to Mr Frissora, a large part of the savings will come through fleet consolidations, as well as the merging of IT resources and duplicitous functions shared by the two firms. He went on to add that by consolidating rental locations, tax, treasury, and investor relations functions, a minimum of $180 million would be saved, with close to 70 per cent of that coming within the first year of the merger.

During the conference call in which Mr Frissora discussed the potential savings resulting from the Dollar Thrifty acquisition, he also talked about the second quarter earnings for his firm. Hertz reported a loss of $6.2 million before income taxes, on a GAAP basis, versus income of $30.7 million during the second quarter. Mr Frissora also announced that the firm expects to generate worldwide revenues of $7.5 billion for 2010.

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Hertz assists Gulf cleanup with Customer Care Centre

Wednesday, July 28th, 2010

Hertz has announced the opening of a new Gulf Coast Customer Care Centre, which the firm hopes will assist those contributing to the oil spill clean-up efforts. The trained staff at Hertz will use their expertise to provide a range of services to businesspeople, government workers, and other individuals who are travelling to the Gulf region, and will rent specialty equipment catering specifically to clean-up, in addition to providing the many SUVs and other vehicles from its fleet.

Hertz chief executive Mark P Frissora said that his company has been contributing to the clean-up effort since the crisis began in the Gulf of Mexico, and that the creation of the new Gulf Coast Customer Care Centre will provide further support for those needing the rental equipment that Hertz provides. He went on to say that Hertz has decades of experience in helping nations deal with national catastrophes, and has sent employees from all over the US to the region in order to ensure the needs of all the customers in the Gulf region are met.

There has been an increase in rentals in the Gulf since the oil spill crisis began earlier this spring, particularly by government agencies such as FEMA and the Coast Guard. In addition to the  several hundred cars and SUVs reallocated to the area, Hertz Equipment Rental has ordered $7 million worth of equipment to be sent to the Gulf region.

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Hertz adds First Call Equipment to corporate umbrella

Friday, July 9th, 2010

Hertz Global Holdings, Inc has announced that it has acquired entertainment rental company 1st Call Studio Equipment. The financial details of the merger have not been released, although 1st call has been a profitable company since it’s founding in 1999, with over $8 million in revenue for the year ending 31 December, 2009. The company is based in Sylmar, California, and has offices in Hollywood on the Universal Studios Hollywood Lot, as well as on the Albuquerque Studios Lot and in Louisiana.

Mark P Frissora, President and Chief Executive Officer of Hertz, said his company is pleased with the addition of 1st Call to the Hertz enterprise. He went on to add that the acquisition marks the initial stages of Hertz’s entrance into the entertainment industry, and expects 1st Call to be a source of significant revenue and growth opportunity.

According to Micheal Catalonello, President and CEO of Roadside Traffic Systems, the sale of 1st Call is a tremendous opportunity for Hertz. He also said that he could think of no better firm to purchase the company, and wishes Hertz continued prosperity in its future endeavours.

1st Call was founded in 1999, and is one of the preferred equipment suppliers for many Hollywood studios, including Universal Studios, Playa Vista Studios, and Santa Clarita Studios. The company rents forklifts, scissor lifts, light towers, and other media-related equipment.

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Hertz exec tells Dollar Thrifty employees not to worry

Wednesday, June 30th, 2010

Hertz chief executive Mark P Frissora has sent a letter addressed to the 700 employees at the Dollar Thrifty Automotive Group headquarters in Tulsa in an attempt to sooth their fears about a possible takeover. Hertz put an estimated $1.3 billion offer on the table in its bid to acquire Dollar Thrifty last April, which it hopes will give the company needed strength in the highly competitive economy car hire market.

According to the letter written by Mr Frissora, he understands the uncertainty and general anxiety among the employees at Dollar Thrifty, and assures them that there will be no changes for at least three months after the transaction has been finalised. He went on to add that Hertz will maintain Dollar Thrifty’s base wages, severance pay, bonuses, and benefits for at least 15 months for employees currently working at Dollar Thrifty headquarters in Tulsa.

The letter comes on the heels of rival Avis’s announcement that it has plans to make a substantially higher offer for Dollar Thrifty, although no such offer has yet been made. The potential takeover by either Hertz or Avis has left the car hire industry under the microscope of the US Federal Trade Commission, as many analysts believe any possible merger would be in direct violation of US anti-trust laws.

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Hertz partners with Autotrader for Rent2Buy

Thursday, June 17th, 2010

Hertz, one of the world’s leading international car hire firms, announced that it is partnering with online car sales giant Autotrader. The partnership will allow shoppers to browse the Autotrader classifieds and pick from the Hertz fleet of Rent2Buy vehicles. The Hertz Rent2Buy system allows consumers to purchase vehicles directly from its inventory, and will benefit tremendously with the addition of its fleet on Autotrader, which has have over 15 million visitors to its website each month.

According to Mark P Frissora, Hertz Chairman and Chief Executive Officer, the partnership with Autotrader allows Hertz customers another avenue by which they can choose from Hertz autos. He went on to add that Autotrader is a trusted online shopping site, and his company is proud to have them as one of its listing outlets.

During the first stage of the program, over 3,000 autos from 2,500 Hertz locations in 20 states will be available on the Autotrader web site. Customers interested in a vehicle have the option for a three-day rental, which can be used to test the car in real-world conditions. If the customer decides to purchase the car, the three-day rental fee is waived. Hertz customers can choose their auto on the Autotrader website, and if interested in the rental, will be linked to the Hertz site to schedule a reservation.

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Hertz launch new advertising campaign

Tuesday, March 16th, 2010

Parent company of Hertz Rent A Car has today launched a new branding campaign titled ‘Journey On’, aimed at showcasing the practical and emotional experiences of travel as well as the benefits of hiring a car from Hertz.

The new campaign was devised by Omnicom Group’s DDB, with the ‘Journey On’ campaign reflecting the Hertz’s commitment to creating a rewarding and personal experience for the car hirer.

Chief Executive Officer of Hertz Corporation, Mark P. Frissora said that over half of Hertz’s revenue is generated by leisure travellers, and the ‘Journey On’ campaign captures the emotional essence of those travellers.

He went on to say that Over the past year, the company had taken numerous steps to refine the rental process by opening up 150 new off airport locations just this year alone, offering new products, services and promotions aimed at younger renters, and technical innovations.

Frissora said that the aim was to give customers the best possible experience so they could focus on what mattered most, the reasons for travelling.

The ‘Journey On’ campaign was developed around the idea of ‘the most important journey is yours’ and includes to creative executions focused on the importance and value of that journey, and to show how Hertz is qualified to ensure a smooth experience throughout the journey.  The creative provides a clear distinction between the practical details of the trip and experimental sides of travel.

Chief marketing officer for Hertz, Mike Senackerib said that ultimately, the reputation of Hertz for innovation and service is all about empowering customers to take control of their own experience.

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Hertz announces expansion plans in Saudi Arabia

Tuesday, February 2nd, 2010

Hertz corporation has announced that its subsidiary Hertz Equipment Rental have entered a joint venture with a local Saudi Arabian based company to set up equipment and rental operations in the country, which will rent and sell equipment and tools to construction firms.

According to Chief Executive of the company, Mark P Frissora, the equipment rental market in Saudi Arabia is growing rapidly and driven by heavy construction with many opportunities in the petro-chemical industry.  The joint venture with Dayim Holdings will enable the company to tap into growth throughout the country, and provide a one stop shop for equipment rental and fleet management for the market.

Executive chairman for Dayim, HRH Prince Khalid bin Bandar bin Sultan said that Hertz is a global leader in the field of equipment rental, and therefore it is ideally placed to serve the Kingdom’s aggressive expansion plans in all relevant sectors.

Hertz, which has been operating since 1965, operates some of the largest equipment rental businesses in the world, offering a wide variety of equipment solutions from tool and machinery rental, to specialty divisions including power generations, industrial plant services, pump solutions and fleet management.

The company currently is the world’s largest general car rental brand, operating at about 8,100 in 145 countries, and is highly visible at airports across North America, Europe, Latin America, Asia, Australia and New Zealand.

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