Hertz Clarifies Total Revenue per Transaction Day Calculation
Hertz Global Holdings Inc. provided additional information regarding the calculation of total revenue per transaction day (RPD) for its second quarter financial records.
This week, Hertz Global Holdings Inc. provided additional information regarding the calculation of total revenue per transaction day (RPD). The total RPD metric was introduced in the first quarter of 2013.
For Hertz’s car rental segment, its total revenue includes revenue from fleet subleases, Donlen leasing transactions and licensee transactions, among other items. This was disclosed in the first quarter’s Form 10-Q in the MD&A revenue — car rental segment section along with the actual dollar amounts for each of these items, says Hertz.
For purposes of calculating total RPD, Hertz excluded revenue from Donlen leasing transactions and currency effects, but total RPD for the second quarter does include the positive impact of the sublease fees. And it also includes the negative impact of year-over-year changes related to mix, rental length and franchised divestitures.
According to Hertz, the second quarter’s total revenue included $22.2 million associated with vehicles leased to Franchise Services of North America (FSNA) in connection with the sale of Advantage, which was only 1% of worldwide car rental revenue, excluding Donlen.
Given the unique and temporary nature of the sublease revenue, Hertz will not include it in its total RPD calculation going forward, says the company.
More Rental Operations

Palm Beach Airport Code Change Creates Car Rental Distribution Gap
A test of rental searches under the old PBI and new DJT airport codes returned largely different sets of brands and vehicles, highlighting a potential distribution problem for rental operators.
Read More →
U-Save Continues Dominican Republic Expansion with Launch in Punta Cana
The new franchise location builds on U-Save’s existing Santo Domingo operation and will begin taking reservations for October 2026.
Read More →
When AI Books the Rental Car, Who Controls the Sale?
As AI moves from comparing rental rates to completing transactions, operators need to understand how travelers find, interpret, rank, and ultimately see their offers. (Part 2 of 2.)
Read More →
European Booked Car Rental Rates Fell 5%, Results Varied by Country
Ireland, Cyprus, and the United Kingdom saw steep declines, while booked rates rose in Poland and Hungary.
Read More →Is It Time to Rethink Rental Categories?
As traditional economy and compact cars disappear from the market, longtime rental operator Mike DeLorenzo asks whether the industry’s familiar vehicle categories still make sense — and what operators need to rethink along with them.
Read More →
Who Owns the Rate? AI Is Creating a New Distribution Problem for Car Rental
Generative Engine Optimization asks whether AI can find a rental company, but operators also need to know whether the agent inspected enough of the market, compared equivalent offers, and presented a rate the traveler can actually book. (Part 1 of 2)
Read More →
U.S. Business Travel Car Rental Rates Forecast to Rise Up to 2%
Improved fleet supply should limit pricing gains in 2026-27, while insurance, repair costs, and softer residual values continue to pressure rental operations, according to Amex GBT.
Read More →
Sixt Revenue Tops $2.4 Billion in First Half of 2026
Sixt’s first-half revenue surpassed $2.4 billion for the first time as demand outpaced fleet growth, lifting utilization and earnings despite weaker consumer sentiment in North America.
Read More →
In Memoriam: Bobby Klyce, Avis Licensee Legend
The longtime Birmingham Avis operator and 2018 Auto Rental News Impact Award recipient was remembered as an advocate for independent licensees and the broader car rental industry.
Read More →How to Build Custom Fleet Tools With AI and Vibe Coding [Webinar]
A new Automotive Fleet webinar explores how fleet managers are using AI and vibe coding to automate routine work and create simple operational tools without traditional programming skills.
Read More →
