Hertz Confirms Plans to Expand Euro Budget Brand Firefly in the U.S.
Hertz says budget leisure car rentals are the most popular type of rental in the airport market. The expansion is hoped to give Hertz a share of the youthful lucrative sector.
The move will allow the car rental company to re-enter the lower price leisure car rental market in the U.S., which it temporarily exited when it sold off the Advantage brand earlier this year. Hertz said this niche is the fastest-growing market segment among airport car rentals.
The company said that it plans to add Firefly to its first location, Orlando, in September. It plans to add further sites throughout the year, including San Francisco, Las Vegas and Los Angeles. The company plans to have, by the end of the year, approximately 20 Firefly locations.
Firefly was first launched in Europe in March and Hertz operates 40 Firefly locations in Spain, France, Italy, Germany, the UK, Switzerland and Portugal.
Shares of Hertz fell 33 cents, or 1.3 percent, to $24.14 in midday trading in line with broader market trends.
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