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
Hilton Worldwide's systemwide average daily rate during the third quarter increased 4.2 percent year over year to $142.51,... read more »
Total business travel spending in China in 2014 will increase 15.9 percent year over year to $262 billion,... read more »
The average cost for a third-quarter domestic U.S. trip by Travel Leaders Corporate clients increased about 4 percent year over year to $1,002,... read more »
The average third-quarter daily rate at Wyndham Worldwide increased 2.5 percent year over year to $72.34,... read more »
The average daily rate at Choice Hotels International properties during the third quarter increased 3.4 percent year over year to $82.12,... read more »
American Airlines on Thursday reported a third-quarter profit of $942 million,... read more »
Southwest Airlines reported a record $329 million third-quarter net profit, up from $259 million for the same period last year.... read more »
Alaska Air Group on Thursday reported net income of $198 million for the third quarter of 2014,... read more »
The average daily rate at La Quinta Inns & Suites increased 4.6 percent year over year to $85.91 during the third quarter,... read more »
The average daily rate at U.S. hotels in September increased 5.3 percent year over year to $117.17,... read more »
The average daily rate at InterContinental Hotels Group properties during the third quarter increased 3.6 percent year over year,... read more »