May 23, 2020, 4:39 am
Last edit by: FlyinHawaiian
Official Press Release - click here
Excerpts:
Excerpts:
- Hertz Global Holdings, Inc. (NYSE: HTZ) ("Hertz" or the "Company") ... announced it and certain of its U.S. and Canadian subsidiaries have filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware.
- All customer and loyalty programs [are] expected to continue as usual
- Hertz's principal international operating regions including Europe, Australia and New Zealand are not included in [the] U.S. Chapter 11 proceedings. In addition, Hertz's franchised locations, which are not owned by the Company, also are not included in the Chapter 11 proceedings.
- All of Hertz's businesses globally, including its Hertz, Dollar, Thrifty, Firefly, Hertz Car Sales, and Donlen subsidiaries, are open and serving customers. All reservations, promotional offers, vouchers, and customer and loyalty programs, including rewards points, are expected to continue as usual.
Consolidated "Hertz Files for Chapter 11 Bankruptcy on May 22, 2020" Thread
May 23, 2020, 2:46 am
#123
Join Date: Aug 2008
Location: YXY
Posts: 3,506
That is a real risk. I lost my interest in Hertz with last year's devaluation without any warning.
So today, I transferred my Hertz points to Amtrak. It seems like the safest bet at this point. Southwest is a better value, but who knows what their operations will look like in a year from now.
So today, I transferred my Hertz points to Amtrak. It seems like the safest bet at this point. Southwest is a better value, but who knows what their operations will look like in a year from now.
May 23, 2020, 3:14 am
#124
Join Date: May 2003
Location: Bangkok, Thailand. No longer Palm Coast, FL though still exiled, again, from the Bay Area.
Programs: Only the good ones
Posts: 5,153
That's an easy one: Stay in Chapter 11 until the coast is clear. Get your uncle Carl (Icahn) to co-sign on a new loan, downsize the fleet and offices, and pay off all the unsecured creditors with funny money aka new Hertz stock, to come out the other side.
May 23, 2020, 3:29 am
#125
Join Date: Oct 2016
Posts: 3,717
There have been quite a few posters dissatisfied with their rewards loyalty program. While it is true about the reward rentals, the really valuable - and best in business - benefits are with the free upgrades and quality of the cars/options installed at the President's and even the 5 star status levels.
Hertz added the grab & go option as a condition of a sweetheart deal (for them) that they landed with the company I work for three years ago (2017) when they undercut National, whom we had been using as our preferred rental car company for many, many years. I'd seriously like to see us go back to National. I was much happier with National.
Last edited by FlyinHawaiian; May 23, 2020 at 10:03 am Reason: consecutive posts merged
May 23, 2020, 4:25 am
#126
Join Date: Feb 2011
Location: AMS
Programs: Delta Skymiles - Platinum; Hertz - President's Circle; Expedia - Gold
Posts: 473
Admittedly, I haven't tried the Emerald isle since my top loyalty status is with Hertz.
But then again, it is very subjective what different customers call the best choice. For me that would be performance cars with low-profile tires and responsive handling - and I won't even glance at SUV's with the boring old-school interior
May 23, 2020, 5:55 am
#127
Join Date: Mar 2006
Location: Lexington KY/Coronado, CA
Posts: 950
One advantage of BK for Hertz is that I would imagine it allows them out of any remaining vehicle purchase contracts Not likely they'll need to buy cars for the rest of the year anyways since with most of their fleet idle, they'll be able to keep those cars for many months longer than they normally would. Case in point: I rented a minivan yesterday - according to the registration it had been in fleet for over 3 months, but only had 700 miles on it.
May 23, 2020, 6:12 am
#128
Join Date: Jan 2008
Posts: 3,638
Now I know why I was told by Hertz, about a week ago, why they were ‘temporarily‘ not able to transfer points to a partner hotel or airline program.
Thank you for your inquiry regarding transferring your Hertz Gold Plus Rewards® points to other travel partners. We have temporarily paused the functionality to transfer points to select partners. You can still redeem your Hertz Gold Plus Rewards® points for free rental days starting at 750 points.
May 23, 2020, 7:07 am
#129
Join Date: Sep 2002
Location: Bainbridge Island, WA
Posts: 8,967
I am known among my friends and family for consumer activism....if something fails or is not right I have had a nearly 100% rate at getting some satisfaction from the offending party. In all my years of " making it good" , the only company that I came up against that refused to make this consumer " happy" was Hertz. I went pretty far up the chain but they clearly had been trained to say " no". They lost my loyalty many years ago over a simple gallon of gas.....
May 23, 2020, 8:23 am
#130
Join Date: Oct 2011
Location: CLT
Programs: Pre✓, Delta DM, Hilton LT Diamond, Mariott Plat, PC Gold, National EE, Hertz PC
Posts: 1,657
Questions/Discussion About Hertz Ultimate Choice Service
May 23, 2020, 9:13 am
#132
Join Date: May 2005
Location: SEA
Programs: AS; Hyatt Globalist; Hilton Gold; NEXUS
Posts: 979
There will be vultures that will take pieces of Hertz in a potential liquidation. As AutoSlash said, they have too many valuable things (the brand, the real estate, etc) for the company to disappear completely. Someone will buy up their assets, and the affected franchisees need to align themselves with someone, lest they face the same fate of Hertz.
May 23, 2020, 9:13 am
#133
Join Date: Jul 2000
Location: Manhattan NV
Programs: Hilton LTD, Hyatt Glob, Marriott LTTE, AA LTP, Avis PC, National EE, Seabourn DE
Posts: 3,030
National is poorly positioned on the global market (locations, pricing, car choices), and for me European rentals matter just as much.
Admittedly, I haven't tried the Emerald isle since my top loyalty status is with Hertz.
But then again, it is very subjective what different customers call the best choice. For me that would be performance cars with low-profile tires and responsive handling - and I won't even glance at SUV's with the boring old-school interior
Admittedly, I haven't tried the Emerald isle since my top loyalty status is with Hertz.
But then again, it is very subjective what different customers call the best choice. For me that would be performance cars with low-profile tires and responsive handling - and I won't even glance at SUV's with the boring old-school interior
May 23, 2020, 9:28 am
#134
Join Date: Mar 2005
Location: West of CLE
Programs: Delta DM/3 MM; Hertz PC; National EE; Amtrak GR; Bonvoy Silver; Via Rail Préférence
Posts: 5,384
May 23, 2020, 9:32 am
#135
Join Date: Oct 2016
Posts: 3,717
National is poorly positioned on the global market (locations, pricing, car choices), and for me European rentals matter just as much.
Admittedly, I haven't tried the Emerald isle since my top loyalty status is with Hertz.
But then again, it is very subjective what different customers call the best choice. For me that would be performance cars with low-profile tires and responsive handling - and I won't even glance at SUV's with the boring old-school interior
Admittedly, I haven't tried the Emerald isle since my top loyalty status is with Hertz.
But then again, it is very subjective what different customers call the best choice. For me that would be performance cars with low-profile tires and responsive handling - and I won't even glance at SUV's with the boring old-school interior