RateGain, a provider of SaaS solutions for the travel industry, experienced strong growth due to a demand for technology-enabled solutions. In the car rental industry, RateGain’s revAI product helps with automation and revenue maximization.
This quarter’s revenue was also 27% higher than the same period 2019, the last normalized quarter.
Revenues were 78% higher than the fourth quarter of 2020 yet were 9% below the fourth quarter of 2019. Adjusted corporate EBITDA of $628 million for the quarter was a record for the company.
Avis Budget Group was able to pivot to meet rapidly changing conditions last year. Can Avis and the rest of the industry manage what’s ahead in 2022?
Avis Budget Group’s adjusted EBIDTA of $683 million in the fourth quarter of 2021 was its best in the company’s history. Full-year revenues beat 2019 by 2%.
For the quarter, Avis recorded more than $1 billion in adjusted EBITDA, its best adjusted EBITDA in company history. Stock surges on Avis's electrification intent.
The company's total revenue for the quarter is $2.2 billion, up 19% from Q2 2021.
Hertz reports total revenues of $1.9 billion, up 62% this quarter compared to last. It also comes with a net loss of $168 million, including reorganization expenses.
As Avis Budget Group’s second quarter adjusted EBITDA came in at $624 million, the best in the company's 75-year history.
The company also plans a significant expansion of locations in Europe and the U.S., including smartphone-enabled virtual locations and its van and truck segment to meet e-commerce demand.
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