by William White | June 27, 2013 11:37 am
Hertz Global Holdings (HTZ) is looking to expand its car-rental business beyond airports.
Hertz CEO Mark Frissora told Bloomberg that the company wants to have 12,000 neighborhood locations in the next few years, as compared to its current 2,600 locations.
The expansion will include Hertz kiosks being placed within the parking lots of various retailers, such as Lowe’s (LOW) and Walgreen (WAG). The cars will be maintained and cleaned by a mobile Hertz crew and retailers will be paid part of the revenue, Bloomberg reports.
The report comes just days after Hertz announced it was launching a new “Dream Cars” service, where the company plans to rent Porsches, Ferraris and other performance cars for thousands of dollars a day.
HTZ shares were up 2% as of writing Thursday, continuing a 50% year-to-date run.
Source URL: http://investorplace.com/2013/06/hertz-rentals-might-come-to-walgreens-lowes/
Short URL: http://invstplc.com/1nwdGyn
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.