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Far be it from the Skift Business Traveler team to cast shade on company so grand as Hertz, but the data crossing our desks just keeps getting worse. This week, the company reported income 68% lower than expected as the company continues to reshuffle its management team and get its act together following the catastrophic reign of its former CEO. The news comes on the tail of a massive reorganization within the company and the closure of over 200 locations.
The nadir, one hopes, has finally been reached, but Hertz has a lot of ground to make up after a really demoralizing year.
Social Quote of the Day
.@Hertz overcharged me by $200 so I bought $200 in Twitter ads to let people know how terrible they are –
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Travel Brands, Stop Hate-Selling to Your Customers: A weekend morning before the rest of the family wakes up is the best time to research and book a trip. It requires attention and certain amount of tolerance for being aggressively sold to, which these languid early mornings give allowance for. Read more at Skift
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Hertz Has Another Lousy Quarter as Net Income Tumbles: Hertz Global Holdings Inc., after an era of weak financial oversight, said second-quarter net income fell 68 percent. The earnings missed analysts’ estimates and the shares fell. Read more at Skift
Bill Gates Considering a Takeover of Strategic Hotels & Resorts: Bill Gates’s Cascade Investment has increased its stake in Strategic Hotels & Resorts Inc. and indicated that it may potentially be involved in a takeover as the luxury-hotel owner explores a sale. Read more at Skift
Trump Hotels Gets Its First Non-Trump Chief Executive: Donald Trump’s Trump Organization hired Eric Danziger as chief executive officer of the company’s hospitality-management wing, the Trump Hotel Collection. Read more at Skift
High-End Hotels Bemoan Competition From Airbnb in Paris: Nowhere in the world has more accommodation available on Airbnb than Paris. Now the home-sharing website that has transformed budget travel to the French capital is giving its super-deluxe hotels a fright too. Read more at Skift
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Can be sent to gm[at]skift[dot]com or to @grantkmartin