p14 oct10 6/10/08 17:51 Page 14
news special report
ttglive.com
Car rental giant unveils a string of offers, incentives and free
upgrades as it heads towards its centenary. By Lee Hayhurst
Hertz history
The story of a 90-year-old car rental firm
Hertz marks 90
years with deals
1910s In 1918 Walter Jacobs opened a car rental
operation in Chicago, with a dozen Model T Fords.
Revenues rose to $1 million in just five years.
HERTZ has kicked off celebrations to mark its giveaways. Activities commenced this month with
90th birthday by promising a range of trade and the Qantas Holidays Global Achievers incentive.” 1920s In 1923, Jacobs sold his car rental
consumer promotions throughout the year. Hitting 90 puts Hertz in the same bracket as concern to John Hertz. The business, called Hertz
The car rental company last month launched a some of the industry’s oldest companies such as Drive-Ur-Self System, was bought in 1926 by
campaign, called Sale of the Century, offering a Thomas Cook and Cox & Kings. General Motors Corporation (GMC).
week’s car rental for £9. The firm claims a number of industry firsts, in-
Hertz is also in talks with partners such as Gold cluding the now common practice of allowing car 1930s Hertz opened the first rent-a-car facility
Medal and Qantas Holidays about trade incentives. drop-offs at outlets other than where picked up. at Chicago’s Midway airport and introduced the
It has promised to give away thousands of free- Today, Hertz claims to be the world’s largest first fly-drive car rental programme in 1932.
day rentals, in-car DVD entertainment packages general use car rental brand with offices in 69
and upgrades, as well as other freebies. European airports and a presence on every conti- 1950s In 1954 The Hertz Corporation was
Elizabeth Norris, head of brand for Hertz nent. Its reservations centre handles 40 million listed for the first time on the New York Stock
Europe, said: “As part of our year-long phone calls and 30 million reservations a year. Exchange. Jacobs became Hertz’s first president
celebrations, we will be working with our retail, Hertz is not the only travel organisation until he retired in 1960. He died in 1985 aged 88.
business and wholesale trade partners on a celebrating a birthday this year: consortium
variety of promotions, incentives and travel agent Advantage turns 30, while lastminute.com is 10. 1960s In 1967, The Hertz Corporation became
a wholly owned subsidiary of RCA Corporation.
Everybody 1970s In 1970, Hertz established its Worldwide
Hertz: Reservations Centre and a year later, its Data
Michel Taride, Hertz’s Centre. Hertz went online all over the world.
Europe president, gets
ready to blow out the 1980s In 1987 it was sold to Park Ridge
candles with the help Corporation. Hertz’s computerised Instant Return
of Liz Norris (left), system was brought in in 1987 and its #1 Club Gold
head of brand and Service was first introduced in the US in 1989.
communications, and
Claire Flack, UK travel 1990s In 1991 Park Ridge Corporation was
distribution manager merged into The Hertz Corporation. In 1994, Ford
purchased the outstanding shares of Hertz and
Hertz became an independent, wholly-owned
subsidiary of Ford. In 1995, Hertz introduced in
the US its NeverLost onboard navigation system
and in 1997 launched hertz.com. In 1997, Hertz
became a publicly traded company, listed on the
New York Stock Exchange and opened its European
service centre in Dublin.
2000s In March 2001, Ford reacquired the
outstanding 18.5% of Hertz’s stock. In June 2001,
Hertz launched Prestige Collection offering luxury
vehicles. In 2002, Hertz became the first global
car rental company to operate in China.
In 2005, Hertz was acquired by three private
equity investment companies: Clayton, Dubilier
& Rice; The Carlyle Group and Merrill Lynch
Private Global Equity.
14 10.10.2008
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