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LOR overall continues to trend downward, but ongoing market and economic conditions could affect future results while the industry deals with staffing and productivity challenges.
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For 2023, Expedia Group’s Traveler Value Index revealed trends such as increased trips to culture-rich cities, an interest in wellness retreats, and a demand for outdoor destinations.
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Enterprise Holdings has partnered with Korea First Rent A Car to add Enterprise Rent-A-Car and Alamo franchise locations in South Korea. Currently, National Car Rental has two franchise locations in Seoul.
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Theeb Rent A Car has opened a new location in the city of Jeddah’s Al-Rabwa District.
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Enterprise Plus and National Car Rental's Emerald Club Members receive upgraded reward opportunities such as a free day, and elite tier extensions, and points promotion.
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The Audi dealership's rental business known as Silvercar by Audi has rebranded to Audi on demand and now includes long-term rental options.
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Hertz Sweden and Norway will pilot Ravin's AI visual inspection technology to improve efficiency, objectivity, and standardization across Hertz's operations.
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In third quarter 2022, Sixt’s consolidated revenue increased by 24.8% to €997.1 million compared to the same quarter last year. This is the strongest quarter earnings in Sixt’s history.
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This funding will help Kyte triple its current vehicle fleet, expand into new markets globally, add more electric vehicles, and pursue its goal of offering fully autonomous trip options.
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The operator is now offering rental services at the Milano Linate airport and Firenze airport.
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The rental company saw revenues of $3.5 billion in Q3 2022 — 18% higher than the same quarter last year.
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