Hertz Reports Softening in Corporate Rental Car Business
Skift Take
Weakening business travel demand, and the impact of ridesharing on the leisure market, is leading to lower rates and decreased revenue for car rental companies.
While Hertz reported notable weakness in business travel in its fourth quarter earnings call this week, the car rental company doesn't believe that the extreme weakness in the global energy sector will spill over into other markets.
"We saw a degree of softening in business travel in the market place in the fourth quarter but outside of the energy sector, it was a more muted softening in that demand,"
