Hertz reported a $36.4 million fourth-quarter net loss, primarily attributable to expenses related to the acquisition of Dollar Thrifty, - Business Travel News

Share this page

Business Travel Supplier Directory

Text size: A A A

NewsLog
RSS

February 25, 2013 - 10:50 AM ET

Hertz reported a $36.4 million fourth-quarter net loss, primarily attributable to expenses related to the acquisition of Dollar Thrifty, reversing a $52.1 million profit recorded for the same period in 2011. Adjusted net income of $140.9 million exceeded the $140 million figure from a year earlier. The company reported a 3 percent year-over-year quarterly decrease in pricing, as measured by rate revenue per transaction day. Pricing "improved during the latter portion of the fourth quarter," according to Hertz, with December rate revenue per day up nearly 2 percent year over year for the Hertz brand and up nearly 5 percent for Dollar Thrifty. Rental car revenue increased 14 percent year over year, due in large part to the addition of Dollar Thrifty, with transaction days up 17 percent year over year.

This page is protected by Copyright laws. Do Not Copy. Purchase Reprint

Leave your comment:

Comments

blog comments powered by Disqus
Related NewsLog
The average daily rate at Extended Stay America during the fourth quarter increased 7.8 percent year over year to $57.86,... read more »
Carlson Rezidor Hotel Group reported Thursday systemwide revenue of $7.8 billion during 2014, a 4 percent year-over-year increase.... read more »
Hotel rate and occupancy growth across all travel segments in major North American markets continues into the first quarter of 2015,... read more »
January air transactions processed by mega travel agencies and settled through ARC fell 1.6 percent year over year,... read more »
Choice Hotels International reported fourth-quarter occupancy of 55.1 percent, up from 51.4 percent in the same period in 2013,... read more »
Air France-KLM reported earnings of €316 million for the fourth quarter of 2014... read more »
Full-year and fourth-quarter 2014 occupancy and average daily rate at Marriott International increased year over year,... read more »
The average daily rate at U.S. hotels in January increased 4.3 percent year over year to $113.32,... read more »
December premium traffic on international routes increased 2.8 percent year over year,... read more »
InterContinental Hotels Group experienced year-over-year growth in occupancy and average daily rate during the fourth quarter of 2014,... read more »
Hogg Robinson Group reported client transactions for the four months ending Jan. 31 rose 6 percent year over year.... read more »