Hertz Struggles in Corporate Travel But Is Encouraged by 'Short-Burst' Trip Trend
Photo Credit: Hertz reported a strong set of second-quarter results Thursday, with total revenue of $2.3 billion and net income of $940 million. Flickr.com / AutoRentals.com
Skift Take
The impact of the strict and extended inbound Covid testing policy in the U.S. shouldn't be underestimated, especially when it comes to larger business customers. The ripple effect is evident in Hertz's latest results.
The relatively late removal of the Covid test requirement for U.S. arrivals in mid-June dented car rental giant Hertz’s business travel bookings.
The company reported a strong set of second quarter results Thursday, with total revenue increasing 25 percent to $2.3 billion, and net income jumping to $940 million, versus a $169 million loss a year earlier.
However, its corporate volume was at 70 percent of 2019 levels for the quarter, with international inbound at about 40 percent.
To offset that it’s exploring how it
