Who Owns Advantage Rent a Car: Discover the Current Owners
Advantage Rent a Car is owned by Orlando Rentco, LLC. This acquisition took place in 2020.
Advantage Rent a Car has a long history in the rental industry. Founded in 1963, it has seen many changes in ownership. Orlando Rentco, LLC, a subsidiary of the Canadian company, Catalyst Capital Group Inc. , became the latest owner.
This change aimed to revive the brand and expand its market reach. The acquisition promises better service and more options for customers. In this post, we will explore the history of Advantage Rent a Car, its current ownership, and what this means for you as a renter. Stay tuned to learn more about the company and its journey.
The Origins Of Advantage Rent A Car
Advantage Rent a Car began in 1963. The company started in San Antonio, Texas. It was founded by Kenneth and Helen Walker. They rented cars to local customers. The business grew slowly in the early years. They focused on customer service and affordable rates.
In the 1980s, the company expanded beyond Texas. They opened new locations in other states. This helped them reach more customers. They invested in a larger fleet of cars. By the 1990s, they had grown significantly. Expansion continued into the 2000s. They became a well-known brand in the rental car industry.
Ownership Changes Over The Years
Advantage Rent a Car has seen many ownership changes over the years. In 1985, it was bought by Hertz. Later, in 2009, Hertz sold it to Franchise Services of North America. Just four years later, in 2013, Advantage was acquired by The Catalyst Capital Group.
During these transitions, Advantage faced several challenges. The company filed for bankruptcy in 2013. Yet, it continued to operate. In 2020, the company faced another bankruptcy. This led to its acquisition by Sixt. These changes have impacted its growth and market position.
Current Owners
The parent company of Advantage Rent a Car is Hertz Global Holdings, Inc.. They are a big name in the car rental industry. Hertz bought Advantage in 2009. This helped them expand their market presence. Hertz has its headquarters in Estero, Florida. They own many other brands too.
The key stakeholders include the Hertz board of directors and investors. The board makes important decisions. Investors provide the funds. Employees also play a big role. They ensure the company runs smoothly. Customers are important too. They rent cars and give feedback.
Business Strategy
Advantage Rent a Car targets budget-conscious travelers. They focus on airport locations to capture tourists and business travelers. Their service appeals to people looking for affordable rental options. They offer various car types to meet different needs. Their strategy includes offering discounts and promotions to attract customers.
Advantage Rent a Car offers competitive pricing. They have a loyal customer base. Their easy booking process attracts many users. The company ensures good customer service. They maintain a well-kept fleet of cars. Their convenient locations add to their appeal.
Financial Performance
Advantage Rent a Car saw a steady rise in revenue. The company kept costs low. This helped boost profits. Their balance sheet shows a strong cash flow. They managed to reduce debt. Investors seem pleased with the results.
Advantage earns money from multiple sources. Car rentals form the largest part. They also earn from insurance. Fees for extra services add to revenue. They have partnerships with travel agencies. These deals bring in extra cash.
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Impact On The Rental Car Industry
Advantage Rent a Car is owned by Orlando Rentco, LLC. This ownership impacts the rental car industry by providing competitive pricing and diverse vehicle options.
Market Influence
Advantage Rent a Car has a significant influence on the rental car market. Their competitive prices attract many customers. This pushes other companies to lower their prices. More choices for people. Better deals for everyone.
Consumer Perception
People trust Advantage Rent a Car. They have a good reputation for quality. Many people think they offer good value. This helps them gain loyal customers. Happy customers often return. They also tell others about their experiences. This word-of-mouth helps the company grow.
Future Prospects
Advantage Rent a Car aims to grow. New locations are being considered. The company wants to reach more customers. Better services will be added. They will update their fleet. New cars mean more choices. Customers will have more options. This will help the company attract more business travelers. It’s a smart move for growth.
Expanding has its problems. Finding good spots can be hard. High costs are another issue. New cars cost a lot. There is also strong competition. Other rental companies are growing too. Advantage Rent a Car must stay ahead. They need to keep prices low. Good customer service is key. Happy customers come back. That helps the business succeed.
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Frequently Asked Questions
Who Is The Current Owner Of Advantage Rent A Car?
Advantage Rent a Car is currently owned by Orlando Rentco, LLC. They acquired the company in 2020.
When Was Advantage Rent A Car Founded?
Advantage Rent a Car was founded in 1963. It has been serving customers for over 50 years.
Where Is Advantage Rent A Car Headquartered?
Advantage Rent a Car is headquartered in Orlando, Florida. The company operates locations across the United States.
How Can I Contact Advantage Rent A Car?
You can contact Advantage Rent a Car through their website or customer service hotline. They provide support for all inquiries.
Conclusion
Advantage Rent a Car has changed hands over the years. The current owner ensures reliable service and competitive prices. Understanding ownership helps customers make informed choices. This knowledge adds confidence when renting a car. Always check for updates on company ownership.
Stay informed and enjoy your next rental experience. Thank you for reading. We hope this information helps.
