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Hertz, Avis, Enterprise sue Chicago over bidding for new O’Hare facility
TransportHertz Corp. and Avis Budget Car Rental LLC are among four car rental companies suing the City of Chicago over the bidding to occupy a new facility to be built at O’Hare International Airport. The third-biggest U.S. city and its Aviation Department are requiring the companies to guarantee payment of rising facility construction costs and [...]
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How Avis-Budget and Hertz are squeezing customers
TransportAnd, you wonder why travelers sometimes shudder when they hear about travel industry mergers. After a couple of years of mergers, the car-rental industry has the upper hand, and is squeezing customers for price increases. An AvisBudget official last month characterized the industry as “right-fleeted.” AvisBudget, which released its first quarter earnings yesterday, reported that [...]
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Avis goes for celebrities in its new ad campaign for business travelers
TransportIn the battle for a key segment, National Car Rentals has suggested that business travelers “Go Like a Pro.” Now Avis Car Rental is turning to its own “professionals” in its latest campaign. The campaign by Leo Burnett Business, which broke Monday, stars four celebrities: champion beach volleyball star and model Gabrielle (Gabby) Reece; Nigel Barker, the [...]
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Zipcar feeling Avis Budget vibe with expansion to first airports
TransportJust days after officially becoming part of Avis Budget Group following the closing of the acquisition, Zipcar was showing off the advantages of the affiliation as it expanded to its first airports. You can now find Zipcars at JFK, LaGuardia and Newark airports and company is using spaces at Avis Car Rental pick-up facilities at [...]
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Rental car exec is very happy about his industry’s mergers and rising prices
TransportThere’s been so much self-satisfied talk among airline executives of late about how mergers have righted the industry to a proper size, but hold on — at least one car rental official believes his industry is “right-fleeted,” as well. After all, Avis Budget acquired Avis Europe in 2011, Hertz completed its $2.3 billion acquisition of [...]
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Zipcar’s Q4 profits triple before its pending acquisition by Avis
TransportZipcar’s profit more than tripled ahead of its pending acquisition by Avis Budget Group as the car-sharing company recorded strong revenue was also helped by a large tax benefit. For Q4, Zipcar reported a profit of $13.8 million, or 34 cents a share, versus $3.9 million, or nine cents a share, a year earlier. Revenue [...]
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Zipcar investor sues to block Avis Budget deal
DigitalZipcar Inc. was sued by an investor who claims that Avis Budget Group Inc.’s takeover offer for the short-term car rental company is inadequate. The $491 million sale to Avis Budget shortchanges Zipcar shareholders, Martin Bertisch alleged in a complaint filed January 8 in Delaware Chancery Court in Wilmington. Zipcar’s board failed to take all [...]
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Zipcar tells employees why it went corporate with Avis Budget
TransportFounded a dozen years ago, car-sharing service Zipcar, which will be acquired by Avis Budget Group for $500 million, is now actively explaining to its employees why it’s likely leaving startup culture behind and going corporate. In an employee FAQ, posted on the SEC site yesterday, the questions that top the list are: “Why are [...]
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Analysis: Zipcar to expand to airports and embrace business travel under Avis Budget ownership
TransportAvis Budget Group plans to expand Zipcar availability at airports during peak-demand periods, and will also offer one-way Zipcar service to and from airports. It’s a graduation of sorts for Zipcar, which offers car-sharing services on more than 300 college campuses, and 20 metropolitan areas in North America and Europe. Following news of Avis Budget’s $500 [...]
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Car-share pioneer Zipcar goes to Avis for $500 million
TransportAvis Budget Group Inc. agreed to buy U.S. car-sharing company Zipcar Inc. for $491 million, targeting consumers looking for an alternative to owning their own auto. Zipcar’s board agreed to a bid of $12.25 a share, the Parsippany, New Jersey-based Avis Budget’s said today in a statement. The offer, which has been accepted by holders [...]
