Hertz Corporation Signs Master Franchise Agreement in Mexico with AVASA

The Hertz Corporation has signed a master franchise agreement with AVASA, the largest Hertz franchisee in Mexico and one of the biggest franchisees in Latin America.

The master agreement provides AVASA the rights to operate the Hertz brand throughout Mexico. Operating 80 locations in 28 cities throughout 17 states, AVASA has been a Hertz franchisee for more than 25 years. The company has solid revenue growth, growing more than 35 percent in 2008, has expanded its fleet approximately 20 percent over the past year and enjoys strong partnerships with national and international companies, including Wal-Mart, operating rental locations at the company's chain of 268 superstores; GNP, one of Mexico's largest insurance companies, and Groupo Posadas, the largest hotel chain in Mexico.

Mark P. Frissora, chairman and CEO for The Hertz Corporation, commenting on the agreement, said, “Hertz has been strategically growing its business by tapping into markets with solid growth potential and we're pleased to have strengthened our relationship with AVASA. Streamlining our operations in Mexico by working with one master franchisee enables Hertz to fully harness the region's potential and we're confident AVASA will work to increase the Company's presence throughout the country.”

AVASA operates Hertz's Cancun location, offering customers #1 Club and #1 Club Gold service; has a diverse fleet which includes the Prestige and Fun Collections; and works closely with the region's airline partners including AeroMexico and Mexicana. In addition, the company operates an in-country reservation center, works extensively with the GDS systems as well as Online Travel Agencies, such as Travelocity and Orbitz; and offers an insurance replacement program for local renters.

“Several years ago AVASA began a new era for car rental in Mexico. Mexicans that in the past would never have thought that renting a car was in their budget are finding that renting from Hertz is not only affordable but easy,” said Moises Behar, director general of AVASA. Behar continued, “Today, with the new agreement, we will soon be offering our cars and services in every corner of Mexico.”