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Hertz (HTZ) Stock Up on Latest Deal with Disneyland Paris

Zacks Equity Research
Updated

Hertz Global Holdings, Inc. HTZ is clearly leaving no stone unturned to drive business via extension of collaborations. In this regard, the company revealed that it has inked a renewal deal with The Walt Disney Company’s DIS popular theme park, Disneyland Paris. Per the deal, Hertz will continue serving as the latter’s official car rental partner for another five years. Shares of the company jumped 4.6% following the announcement.

Disneyland Paris is one of Europe’s top tourist spots, as is evident from its nearly 14.8 million annual visitors. Hertz completed 20 years of its partnership with this renowned destination in 2015, and we believe that the extended connection is likely to benefit both companies and enhance their business.

In fact, this connection now extends beyond France, across Europe. Consequently, visitors of Disneyland Paris traveling with Hertz can avail special car rental charges in countries including Belgium, France, Germany, Italy, Luxembourg, the Netherlands, Spain and the U.K., starting this year end. Further, as part of the latest deal, Hertz and Disneyland Paris are on track to begin a new program to initiate joint marketing strategies.

On the one hand, these concerted efforts will enable Hertz to leverage continued exposure in the resort and help attract more customers. Also, the company’s array of vehicles including the Family Collection and many others, along with its wider reach, are likely to enhance customers’ convenience. This should further boost the resort’s visitor count.

Hence, this extended partnership not only emphasizes the strong connection between Hertz and the European hotspot, but also reflects their focus on establishing solid ties with European customers, by fulfilling their requirements as much as possible.  

Hertz has always been focused on international expansion. Evidently, the company’s Thrifty Car Rental unit recently marked its foray into Thailand. This, in turn fortified its Asian presence by adding to its existing locations of Singapore, Malaysia and Philippines. Overall, Hertz currently has over 900 Dollar and Thrifty locations across Europe and Asia.

Hertz closed at $11.86 yesterday, down 15.3% year to date.

HERTZ GLBL HLDG Price

HERTZ GLBL HLDG Price | HERTZ GLBL HLDG Quote

Zacks Rank

Hertz currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the same industry include Core-Mark Holding Company, Inc. CORE and PRGX Global, Inc. PRGX, each with a Zacks Rank #1 (Strong Buy).

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HERTZ GLBL HLDG (HTZ): Free Stock Analysis Report
 
PRGX GLOBAL INC (PRGX): Free Stock Analysis Report
 
DISNEY WALT (DIS): Free Stock Analysis Report
 
CORE-MARK HLDG (CORE): Free Stock Analysis Report
 
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Zacks Investment Research