Effective immediately, Avis Budget Group Inc. will operate its Budget Car Rental brand in Portugal directly. Prior to this announcement, Avis Budget Group’s corporate-operated Portugal locations had been limited to the Avis Car Rental brand, while the Budget brand was operated by a licensee.

"Expanding Budget's presence across Europe and enhancing our customer experience are two of our key strategic growth initiatives, said Ronald L. Nelson, Avis Budget Group chairman and chief executive officer. “And investing in Portugal, an important international destination that is experiencing growth in both business and leisure travel, is consistent with these goals. Budget has a solid and stable presence in Portugal and is well-positioned for further growth and prosperity."

Comprising of 34 rental locations, Budget Portugal offers its services across Portugal, including locations in the Faro, Lisbon, Porto and Madeira airports. Major business centers served by Budget include Aveiro, Braga, Coimbra, Faro and Vila Real, says the company.

"This investment will enable us to better utilize our fleet and capture a larger share of this growing car rental market," said Larry D. De Shon, Avis Budget Group's president, Europe, Middle East and Africa. "In addition, by seizing the opportunity now to increase our presence in this market, we will be able to leverage our licensee's established presence and further enhance Budget brand loyalty and our profitable revenue growth."