Avis Budget Withdraw Bid For Dollar Thrifty Group

Hi all,

Breaking news this evening regarding the Dollar Thrifty Group buy out, and as the title suggests Avis Budget have decided to pull out of the running to take over the Tulsa based USA car rental supplier.

In a regulatory filing, Avis Budget sited “current market conditions” for the decision.

We have made significant progress toward obtaining U.S. regulatory clearance for the acquisition of DTG, and we believe that such regulatory clearance could be obtained. Nonetheless, we have decided not to pursue a transaction at this time in light of current market conditions.”

Avis Budget, who have recently spent £635 million on obtaining Avis Europe, made their offer, a combination of $45.79 in cash and 0.6543 shares of common stock or approximately $1.5 billion in aggregate based on stock prices at the time, back in September 2010.

Hertz came in with their own offer and to date this still stands.

My take on the Dollar Thrifty Buy Out…. and not to blow my own trumpet but…………. I said this would happen ;-)

regards,

James

 Florida car hire

Dollar Thrifty Sets Deadline For Purchase Offers

Hi all,

Following on from Scott Thompson’s letter to Budget and Thrifty sent late August, Dollar Thrifty this week sent out letters detailing the deadline they expect all formal offers to be submitted by.

The letter states

Final offers for Dollar Thrifty are due no later than 5 p.m. EST Oct. 10
Mark Pinsky, Dollar Thrifty consultant goes on to state
The board of directors of the company will meet to review your offer, Based upon your offer, the board will decide whether to have further discussions between you and the company regarding a potential transaction.
“The company reserves the right in its sole discretion to evaluate the terms and conditions of your offer, to enter into or terminate any negotiations or agreements with any potential purchaser or purchasers at any time and to reject any or all offers from potential purchasers for any reason whatsoever.”
An interesting part of the letter asks potential buyers to list the following within their proposal
  • Purchase Price
  • Mix between cash and shares.
  • How they plan to finance the deal.
  • Regulator terms that would be required to complete the deal.
  • How Dollar Thrifty will be merged in to the suitors company.
  • The composition of the combined company’s board of directors post-transaction.
  • How they will maintain a presence in Tulsa.
  • How they will retain Dollar staff.

Retention of staff clearly favours Budget Rent A Car who already have a large presence in Tulsa however the regulator terms possibly suit Hertz who have already stated they would look to sell Advantage Rent A Car to complete the deal.

Hopefully all looks positive that we will finally get some closure this year.

Kind regards,

James

 Florida car hire

Letter From Dollar Thrifty To Hertz And Avis Budget

Hi all,

Last week Dollar Thrifty sent a letter to both Hertz and Avis Budget asking them to reply with their best and final offers to purchase the Car Hire USA company.

I’ve managed to see a copy of this letter which I have posted below

August 21, 2011

Mr. Ronald L. Nelson

Chairman and Chief Executive Officer Avis Budget Group,

Inc. 6 Sylvan Way Parsippany,

New Jersey

07054

Mr. Mark P. Frissora

Chairman of the Board and Chief Executive Officer Hertz Global Holdings,

Inc. 225 Brae Boulevard Park Ridge,

New Jersey

07656

Dear Ron and Mark:

As you are aware, Dollar Thrifty has worked cooperatively with each of Avis Budget and Hertz for many months in an effort to obtain antitrust regulatory clearance for a possible business combination transaction. We understand that these efforts have been fruitful, and believe that each of Avis Budget and Hertz is well positioned to complete the regulatory process in a manner that would permit a combination to be completed with limited economic impact. We appreciate the efforts made by each of your companies as well as your continued interest in Dollar Thrifty.

In light of the regulatory progress that has been made, we believe that it is time to ascertain whether a transaction can be accomplished with Avis Budget, Hertz or another party on terms that our Board of Directors determines are in the best interests of Dollar Thrifty and its shareholders. Accordingly, our Board has determined that it will solicit best and final definitive proposals for submission in early October. Based on the results of this process, we will consider what actions would be in the best interests of Dollar Thrifty and its shareholders. While the details of our process will be furnished separately by our financial advisors in the coming days, I wanted to provide each of you with advance notice in order to give your companies ample preparatory time in which to complete your regulatory efforts. As you can appreciate, in view of the unprecedented opportunity that each of Avis Budget and Hertz has had to assess and mitigate in advance the antitrust regulatory risks of a transaction with Dollar Thrifty, any proposal that requires our shareholders to assume any portion of such risk is unlikely to be acceptable to our Board or shareholders.

Please do not hesitate to let me know if there are any questions.

Very truly yours,

DOLLAR THRIFTY AUTOMOTIVE GROUP, INC.

Scott L. Thompson
President and Chief Executive Officer

A very interesting letter I’m sure you’ll agree. On a positive note it does look like the end is near in this epic saga.

Who do you think will purchase Dollar Thrifty?

Kind regards,

James,

 car hire USA

Dollar Rent A Car Price Increase 20 May 2011

Hi all,

Fresh from the news that we are expecting a price rise from Budget Rent A Car, Dollar Rent A Car have now contacted us to advise a price increase which will take effect from 20 May 2011.

The price increase will cover most of the peak summer period and will involve some of the more popular vehicles including the Intermediate (IFAR), Standard (SFAR) and the Premium Sports Utility Vehicle (PFAR) and also the Convertible (STAR).

Increases

The increases will take effect for all new reservations made from May 20, 2011;

For pick up on or after June 20, 2011

  • Florida: Rates have increased for the STAR and IVAR and  the SFAR and PFAR
  • All areas except Florida: The high season surcharge will commence June 20 (originally it was July 14)
  • All areas except Florida: Rates have increased  for the STAR, IVAR, SFAR and the PFAR

The rate increases will effect all suppliers of Dollar Rent A Car, and is a spiralling effect from the terrible Tsunami that struck Japan in March, which has led to a real shortage of supply’s for the manufacturing of vehicles.

usrentacar.co.uk promises to try to minimise the impact it has on our pricing by swallowing as much of the increase as possible.

Remember this does not effect rentals that have already been made.

We’ll keep you posted of for further increases which seem inevitable now.

Kind regards,

James

 car hire USA

Hertz Make New Bid For Dollar Thrifty

Hi all,

The soap opera that has become the race to purchase Dollar/Thrifty took another turn yesterday when Hertz re-entered the race with an equity bid of $2.2 Billion. The offer is based on Hertz’s May 6th stock price of around $72 total per share.

Hertz’s ambitious plans for discount brand, Advantage Rent A Car could be shelved to help gain approval from the FTC which appears to have been a stumbling block for the Avis/Budget offer.

A Hertz spokesman stated that the next steps would be

we will complete the divestiture of Advantage and work toward FTC approval. We will enter into discussions with Dollar Thrifty to reach a consensual deal and look to secure support of Dollar Thrifty shareholders.

Hertz new offer eclipse’s its previous offer by 26% and Budgets by 24%, Hertz stated that improved conditions within the market place, driven by a buoyant second hand market has resulted in the improved offer.

It will be very interesting to see where this saga goes and the FTC ruling regarding Avis/Budgets proposed purchase of Dollar/Thrifty will have a massive bearing, the outcome of this is already a month overdue.

Who will benefit more from the purchase, Hertz, Avis/Budget or the consumer?

regards,

James

 car hire USA

USA Car Hire Rental Agreements Go Digital

Hi all,

When you collect your vehicle from our suppliers locally you will be asked to sign a rental agreement. The rental agreement is a legally binding contract between you and the supplier which outlines everything that is included plus any additional items you elect to purchase locally. For example; a child seat, additional drivers or one way rental fee’s.

It is extremely important that you fully read and understand your agreement as it is very hard for us to fight any charges added to your agreement that you have signed for locally.

In the past these rental agreements have always been signed on physical paper. However in an effort to speed up the process Dollar Rent A Car have switched their rental agreements to digital contracts.

Examples -

We still recommend you fully read and understand your rental agreement before you digitally sign it and make sure if you have any questions you ask them at the time of collection.

Remember if you find you have signed for something locally, with Alamo or Dollar, that you do not recognise you do have the option to contact the local office within 24 hours to have the charge removed.

Have you used the new style digital rental agreement?

Did it speed up your collection process?

regards,

James

 car hire USA

Dollar Rent A Car Close’s Las Vegas Locations

Hi all,

We’ve received news today that unfortunately Dollar Rent A Car have been unable to reach a long term agreement with several hotels and casino’s in Las Vegas and as of the 1st June 2011 they will no longer be operational.

Dollar statement:

We have been unable to reach an agreement with the hotelier to continue the current arrangement and regrettably, we will be closing several of those hotel lobby rental counters in Las Vegas.

The locations effected are

  • LAS VEGAS LUXOR
  • LAS VEGAS CIRCUS CIRCUS
  • LAS VEGAS MIRAGE
  • LAS VEGAS EXCALIBUR
  • LAS VEGAS MGM GRAND
  • LAS VEGAS MONTE CARLO
  • LAS VEGAS BELLAGIO
  • LAS VEGAS NEW YORK/NEW YORK
  • LAS VEGAS MANDALAY BAY
  • LAS VEGAS ARIA RESORT AND CASINO

We have contacted all customers effected by these closures and Dollar Rent A Car have reacted quickly to prevent further inconvenience by setting up a shuttle service based from their Swenson Street location.

We are pleased to advise that all reservations you have booked for rental on or after June 1, 2011, will be handled by our full service location located at 4775 Swenson Street, Las Vegas, NV 89169.  This location is just off the Las Vegas Strip and within short distance of many major Las Vegas Hotels.  Your customer simply needs to contact our location 702-591-6565 and we will arrange to pick them up from their hotel and transport them to our rental location to complete the rental agreement. This number provides direct support between the hours of 5:30 am to 8:30 pm PST.

Its a real shame that these locations have had to close, perhaps in the future these locations may re-open however its great to see Dollar Rent A Car reacting positively to reduce the impact this could have on usrentacar.co.uk customers.

Remember Dollar Rent A Car still has some great locations available in Nevada, please see the list below.

Las Vegas Airport

Treasure Island

4775 Swenson Street

Mandarin Oriental

2600 West Harmon Avenue

Las Vegas Hilton

regards,

James

 car hire USA

Car Hire USA Reviews Via The App

Hi all,

Just when you thought it was safe, I’m back with another post regarding the app. The usrentacar voucher app is now almost 2 weeks old and quickly coming  up to 500 downloads… hooray…!!

One of the app’s unique features is the ability to review your car hire live at the time of collection.

Here are a few of the reviews sent to us via the iPhone app so far…

Miss M Brook, collected from Los Angeles Airport with Dollar

Dollar LAX – service and cars are ok. The first time I hired from them the GPS didn’t work, so check before you drive! Also, the staff can be quite aggressive upsellers, especially the breakdown cover, which they will tell you isn’t covered by your US rentacar voucher, this isn’t true, as there is basic cover included. It’s up to you if you want to get the extra, but they act like there’s no other option. The service and cars are better at Budget Union Station, but the fleet is bigger and the hours are longer at Dollar LAX which is why I hire from them.

Mr J Young, collected from Tampa International Airport with Dollar

upgraded from Ford Escape after being given wrong car by Dollar at Tampa Airport, all sorted out by usrentacar :-)

Mrs J Mould, collected from Los Angeles Airport with Dollar

Great car no problems , very happy I went and booked it through usrentacar otherwise dollar tried to push us to add things when u don”t need to , when we booked everything thing is included usrentacar told us ,dollar are on commission here! So Beware!! great value paid 331 for months rental cheapest in LA ! Very fast service at dollar there is a international prepaid rentals , down load the usrentacar app on iPhone and showed them we had the car in 10 mins :)

We really like the idea of customer being able to review immediately upon collection, the option is also there to provide a picture of your rental vehicle which we hope people will begin to use.

Will you be using our app this year?

About the app

Download the ‘usrentacar voucher iPhone App‘ and make your USA car hire rental voucher mobile! If you are fed up with having to bother with the hassle of printing off pieces of paper to take with you when you collect your car then the usrentacar voucher App is for you.

Its simple; just download the iPhone App from the App Store and your rental voucher will be available via your iPhone.

But its not just an voucher App it will also give you access to some pretty snazzy information. The App will also help you find out the current average wait time to collect your car, you can also review and rates your car rental experience as well as keep up to date with all the latest news and info from the usrentacar.co.uk blog.

We hope our voucher App will help take a little bit of hassle away from your travel plans.

Regards

James

Latest Florida Car Hire Reviews

Hi all,

I thought I’d share some of the Florida Car Hire reviews that have been left this month by our customers.

After renting with usrentacar.co.uk we always contact our customers to ask for their comments regarding their hire and to mark the supplier on services such as speed of collect, vehicle quality and value for money to name a few.

In the interest of fairness I’ll try and offer 2 positive reviews and 1 negative for each supplier.

Alamo

Mr D Horton, Orlando International Airport, 14/03/11 said:

Great service from Alamo, I love the fact you can pick your car from the line rather than having a vehicle assigned to you. Big thumbs up.

Mrs J Ellis, Sanford International Airport, 22/03/11 said:

Our flight was delayed by almost 6 hours but the Alamo staff were very friendly and had our vehicle all prepared and waiting for us upon arrival. They even gave us a free upgrade to a lovely 4×4.

Mr D Herring, Tampa International Airport, 11/04/11:

We spent the best part of an hour queing up at the Alamo desk to rent the car this which is unacceptable.

Budget

Mr J Godwin, Tampa International Airport, 25/03/11:

Excellent service from Budget as well as USCarRental. Received upgrade as requested from Tampa location..in the past have used same service at other airports ie Orlando and Miami where upgrades were not ”available”!

Mr B Terry, Orlando International Airport, 07/03/11:

GOOD SERVICE AS ALWAYS,WE HAVE USED BUDGET FOR THE LAST FIVE YEARS WITH NO PROBLEMS. MY ONLY GRIPE IN THE TIME WE HAVE TO SPENT IN THE QUEUE AFTER A NINE HOUR FLIGHT

Mrs J Alexander, Melbourne Airport, 29/03/11:

I have used this supplier at the same location 4 times now and each time they do not seem to know what I have signed up for. This is the second time that I have been charged for$64 for a second driver and had to go back to get it re-imbursed onto my credit card. It seems that the US locations can”t quite believe the deal we get in England.So…my advice is..book this deal but make sure that you check what you are being charged for BEFORE you leave at the end of your hire.

Dollar

Mr K McCarthy, Orlando International Airport, 24/03/11:

Excellent top of the range car, new blind spot sensors are a fantastic addition and only 250 miles on clock

Mr A Moore, Orlando International Airport, 18/03/11:

We booked a Ford Mustang at a very reasoable. We collected from Dollar staff who were very helpful, and returned to a Dollar desk at our hotel with no problems at all. later in the holiday we rented a yellow and black Corvette from a different supplier, and were not at all impressed with the service. No guessing who we booked with when we wanted to arrange a hire car for the last few days and to take us to the airport. Will happily use next time we visit America. Thanks!

Mr N Roberts, International Drive Palms Resort, 28/03/11:

CAR COULD HAVE BEEN CLEANER

Does your experience of Florida Car Hire match up with any of the reviews above?

regards,

James

 Florida car hire

Roadside Assistance with usrentacar.co.uk

Hi all,

Recently we’ve had some customers asking questions regarding Roadside assistance and if its included within our rentals.

Our rentals all include basic Roadside assistance.

What is Basic Roadside Assistance

Basic Roadside assistance covers the renter against vehicle breakdown’s due to mechanical problems. In essence this means you are covered for breakdown’s that are not the result of driver fault.

The supplier will try to fix the vehicle on the spot, if this is not possible a new vehicle will be supplied.

What is Roadside Assistance Plus/RoadSafe?

Roadside Assistance Plus/RoadSafe is an additional local optional extra which maybe offered to you upon collection. It is charged on a per day basis but must be purchased for the whole of your duration. Approx cost $4.99 plus tax.

It covers -

Key Replacement Lost keys? No worries, we will send replacement keys or a locksmith.
Glass Replacement If the glass is damaged through no fault of your own, we will replace the glass.
Flat Tyre If the vehicle’s spare tire is inflated and serviceable, it will be installed to replace a flat tire. If no inflated spare is available, the vehicle will be towed in accordance with the towing provision.
Tire Replacement If the vehicle’s tire is damaged, the tire will be repaired or replaced at no additional charge.
Towing Towing charges will be covered at no additional cost should the vehicle be inoperable.
Jump Start A battery boost will be provided in an attempt to start the vehicle.
Lockout Service If the keys are locked inside the vehicle, service will be sent to gain entrance.

So basically the Advanced Roadside assistance covers you for failures due to driver negligence. As above this is an optional extra and does not have to be purchased to collect any vehicle.

Hope this is helpful.

regards,

James

 car hire USA


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