Budget Car Rental has named Budget Iceland as "Licensee of the Year" at the 2015 Budget Car Rental Licensee Awards for Europe, the Middle East and Africa (EMEA). Budget Iceland, who also won the award in 2012, accepted the accolade at a gala event in Dublin.

"Licensees play a critical role in helping Budget meet customer needs around the world," said Mark Servodidio, president, International, Avis Budget Group. "Budget Iceland's continued commitment to customer satisfaction and their exceptional revenue growth in the last year make them worthy of this honor. We are proud to name Budget Iceland our Licensee of the Year."

The Budget Car Rental Licensee Awards recognize licensee partners that have demonstrated growth in annual financial performance, measured against their local country economic conditions, according to the company. The awards also take into account customer service and delivery of strategic initiatives.

Budget Bahrain and Budget Ireland were honored for their accomplishments with the Outstanding Achievement awards for 2015, according to Budget.

"The Licensee of the Year Award is a coveted honor, so to receive it for the second time fills us with great pride," said Hjálmar Pétursson, chief executive officer of Budget Iceland. "Alongside our financial growth, we are particularly delighted to be recognized for our ongoing commitment to service excellence."

Budget Iceland has been in operation for nearly 25 years, providing customers with a variety of makes and models including Ford, Hyundai, Renault, Suzuki and Toyota, with many 4x4 models.