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About Avis Budget Group, Inc.

Avis Budget Group (ABG) has a car rental brand for you. The company's core brands include: Avis Rent A Car, which targets corporate and leisure travelers at the high end of the market; Budget Rent A Car and Payless Car Rental, both marketed to those on a budget; and Zipcar, a car-sharing service. The rental car operator operates through 5,500 Avis and 4,050 Budget branches across 180 countries in North America, Europe, Australia, and New Zealand, and generates nearly 70% of its revenue from its on-airport locations. Avis's Budget Truck is one of the leading truck rental businesses in the US.

Operations

ABG operates through two business segments. Americas (70% of Avis' revenue) is comprised of its vehicle rental business (including licensee business), Zipcar car-sharing business, and other products and services in North, South and Central America, and the Caribbean. International (30%) provides similar products and services in Europe, the Middle East, Africa, Asia, Australia, and New Zealand.

The company's Budget Truck rental business boasts a US fleet of some 22,000 trucks across its network of 480 company-owned locations and another 1,000 dealer-operated locations.

Although Avis and Budget maintain separate brand identities, the companies share a global fleet of about 600,000 vehicles and an administrative infrastructure. Avis' budget-conscious Payless brand operates 240 vehicle rental locations (90 company-owned and more than 150 licensee) worldwide.

Geographic Reach

ABG operates in 180 countries in North America, Europe, Australia, and New Zealand. About 65% of its revenue stems from the US.

Sales and Marketing

The car rental firm touts the Avis and Budget brands through traditional media, including TV, radio, and print ads, as well as Internet, email marketing, and mobile device applications. Avis and Budget have marketing partnerships with several major airlines including American Airlines, Air Canada, British Airways, KLM, Lufthansa, and Southwest Airlines, among others.

Strategy

ABG's growth strategy is immersed in the growing trend of smart technology and connected vehicles. In 2016 it launched Avis Now, a mobile application that allows customers to reserve, confirm, or upgrade their car, add extra products, open and close rentals, and, in some cases, lock and unlock the vehicle, using their smartphone or tablet device. ABG has also announced it will double its fleet of fully connected cars by the beginning of 2018, bringing the total number of connected vehicles to 100,000.

To grow overseas, ABG aims to extend its Zipcar car-sharing operations. In late 2017, Zipcar entered the Latin American market and Nordic countries by launching its services in Costa Rica and Reykjavik, Iceland, respectively. Zipcar already maintains a major presence in 500 cities and towns spanning Europe, Asia, and North America.

Another was ABG grows is to encourage the promotion of car class upgrades, adjust its vehicle mix to match customer demand, market more to small-business and international travelers, increase its rental transactions through its websites, boost its prepaid customer transactions, and optimize its prices (with an eye on competitor prices) to increase the rental fees the company collects per rental day.

Mergers and Acquisitions

ABG extends its geographical reach through the use of acquisitions. In late 2016, ABG acquired France Cars, a privately-held vehicle rental company, for $45 million. The acquisition complemented the company's existing operations and expanded its presence in the French market.

During 2015, ABG expanded its presence in Italy after purchasing vehicle rental services company Maggiore Group for $160 million (net of acquired cash and short-term investments). Also that year, it boosted its presence in Brazil after purchasing the remaining 50% equity stake in its Brazilian Licensee for $8 million (not including debt), adding a new subsidiary.

Avis Budget Group, Inc.

6 SYLVAN WAY
Parsippany, NJ 07054-3826
Phone: 1 (973) 496-4700

Stats

Employer Type: Publicly Owned
Stock Symbol: CAR
Stock Exchange: , NASDAQ
CEO and COO: Larry D. De Shon
Chairman: Ronald L. Nelson
Interim CFO: Martyn R. Smith
Employees (This Location): 78
Employees (All Locations): 30,000

Major Office Locations

Parsippany, NJ

Other Locations

Juneau, AK
Birmingham, AL
Decatur, AL
Hartselle, AL
Mobile, AL
Montgomery, AL
Bentonville, AR
El Dorado, AR
North Little Rock, AR
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Chandler, AZ
Flagstaff, AZ
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Page, AZ
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Victoria, Canada
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Whistler, Canada
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Genas, France
Limoges, France
Merignac, France
Perigueux, France
Roanne, France
Saint Etienne, France
Vichy, France
Machelen (Bt.), Belgium
Singapore, Singapore
Aarau, Switzerland
Agno, Switzerland
Altdorf, Switzerland
Altendorf, Switzerland
Altenrhein, Switzerland
Ascona, Switzerland
Bad Ragaz, Switzerland
Basel, Switzerland
Bern, Switzerland
Biel-Bienne, Switzerland
Binningen, Switzerland
Buchs, Switzerland
Chur, Switzerland
Davos Platz, Switzerland
Emmenbrücke, Switzerland
Fribourg, Switzerland
Genève 15 Aéroport, Switzerland
Interlaken, Switzerland
Kriens, Switzerland
Lugano, Switzerland
Martigny, Switzerland
Melide, Switzerland
Muttenz, Switzerland
Neuchâtel 1, Switzerland
Niederuzwil, Switzerland
Payerne, Switzerland
Préverenges, Switzerland
Rothrist, Switzerland
Samedan, Switzerland
Schaffhausen, Switzerland
Sierre, Switzerland
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St. Gallen, Switzerland
Thun, Switzerland
Verbier, Switzerland
Vevey, Switzerland
Winterthur, Switzerland
Yverdon-Les-Bains, Switzerland
Zürich, Switzerland
Zuchwil, Switzerland
Zug, Switzerland
Vaduz, Liechtenstein