Leading car rental company, Hertz Global Holdings Inc. (HTZ) declared that its Portugal wing has entered into a partnership with MyCaddyMaster, a golf clubs rental company, to provide golfers with an innovative rental service that offers car and golf equipment together.
A first of its kind, the partnership will provide customers the comfort of travelling with fewer luggage and without any hassle in selecting the appropriate car during their golf holiday.
Under the service, customers can order for top quality golf clubs online and find them loaded in the hired Hertz car when they arrive at Portugal's Lisbon and Faro airports. Additionally, customers will enjoy the ease of leaving the golf equipment in the car itself when they fly back home.
This service eliminates the trouble of carrying heavy bags during travel as well as reduces the chance of losing golf clubs in transit. Moreover, it lessens travelling cost as airlines now charge about £60 as luggage fees to transport golf clubs.
This partnership came in force after the companies observed the recently increasing popularity of golf holidays, with nearly 1.3 million European players travelling abroad to enjoy their favorite game. Of the 6 million game lovers across Europe, over 350,000 descend on Portugal every year. This has made Portugal the number one golfing destination in the world. The rising popularity of such holidays along with the travel hassles involved will surely boost this service as it debuts in Portugal.
In the list of the most popular golf destinations, Britain occupies the first spot attracting nearly 30% of Europe's 4.4 million golfers. Following Britain, Germany occupies the second place attracting 14% of the players and Sweden the third spot bringing in 11% of golf lovers.
Hertz operates its car rental business under Hertz, Dollar, Thrifty and Firefly brands in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz, which competes with Avis Budget Group Inc. (CAR), is the number one airport car rental brand across the globe with about 11,555 corporate and licensee locations in nearly 145 countries.
However, the company currently carries a Zacks Rank #5 (Strong Sell) due to accounting mishaps that led it to postpone its first-quarter fiscal 2014 earnings announcement and related 10-Q filing. The earnings release scheduled for Jun 9 was delayed due to the identification of certain errors in its financial results for 2011 and the need to restate the same as well as make relevant corrections in its 2012 and 2013 statements.
Other Stocks to Consider
Some better-ranked stocks in the same industry include ExamWorks Group Inc. (EXAM) and SouFun Holdings Ltd. (SFUN), both carrying a Zacks Rank #2 (Buy).
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