Hertz Buy Out Advantage

The rental car industry has certainly felt the pinch of the sluggish economy, and some more than others. Unfortunately, Advantage vehicle rentals felt the full force of the economy when they had to file bankruptcy last year. Hertz Global Holdings bought out the ailing Advantage for $33 million this Thursday. The rental car giant beat out every other rental car company, such as Enterprise, that bid on the Advantage brand.

Advantage had many locations across the country, and Hertz plans to keep 20 of those locations open and running. Hertz also plans to keep Advantage as its alternative brand to sell to its accounts in the corporate sector. Hertz believes that they can up their annual profits by acquiring the Advantage name. Not only that, but Hertz also hopes to boost its already large number of online bookings.

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