Hertz Investment in On-Demand Car Service Tied to Tech Overhaul
Skift Take
Hertz's investment in on-demand valet-parking service Luxe should be seen in the context of Accorhotels recently acquiring Onefinestay. Car rental companies and hotels are both feeling pressure from the sharing economy and they will be making more such investments and acquisitions as these startup mature.
Hertz's decision to lead a $50 million Series B investment into San Francisco-based on-demand valet-parking service Luxe highlights Hertz's plan to completely overhaul its technology as it envisions a future convergence of the car rental and car-sharing sectors.
That's the view of Michel Taride, president of Hertz International, who says he's "paranoid" about the market and competitors.
Speaking at the
