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
Apr 27, 2020, 7:29 am
#1
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Join Date: Apr 2002
Location: Las Vegas
Posts: 1,174
Consolidated "Hertz Files for Chapter 11 Bankruptcy on May 22, 2020" Thread
Goes bankrupt, etc. (given their cash position, non-support from the government for bailout support, rapid declining of the the value of their inventory of cars, etc.), suggestions for best actions to take now to utilize accumulated Gold points?
Last edited by FlyinHawaiian; May 23, 2020 at 4:32 am Reason: retitled thread to reflect current state
Apr 27, 2020, 8:28 pm
#3
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Location: Las Vegas
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Where on the Hertz site does it allow you to exchange the points for airline miles? The only thing I see that you can use the points for, are car rentals and "bid and buy" travel experiences (for which there are none).
Apr 28, 2020, 8:48 am
#4
Join Date: Jan 2009
Location: New York suburbs
Posts: 4,210
How can I redeem Hertz Gold Plus Rewards® points for frequent traveler rewards with airlines and hotels?
You can redeem your Hertz Gold Plus Rewards® points for frequent traveler points online:
You can redeem your Hertz Gold Plus Rewards® points for frequent traveler points online:
- Log in at hertz.com
- At the top navigation bar, click on "My Account," from there select "Use My Points."
- Select the "Exchange My Points" tab.
- Complete the form and hit "Submit."
Apr 28, 2020, 12:08 pm
#6
Join Date: Mar 2019
Location: NYC
Programs: DL Gold, B6 Mosaic, WoH Explorist, IHG Gold, Hertz PC, CET 7*, MLIFE Plat, Cosmo Gold
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How can I redeem Hertz Gold Plus Rewards® points for frequent traveler rewards with airlines and hotels?
You can redeem your Hertz Gold Plus Rewards® points for frequent traveler points online:
You can redeem your Hertz Gold Plus Rewards® points for frequent traveler points online:
- Log in at hertz.com
- At the top navigation bar, click on "My Account," from there select "Use My Points."
- Select the "Exchange My Points" tab.
- Complete the form and hit "Submit."
After Hertz introduced the new interface, those instructions are outdated and isn't valid anymore. AFAIK, I don't see the option online anymore and I believe you would have to call them.
Apr 28, 2020, 12:10 pm
#7
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Apr 29, 2020, 6:39 am
#8
Join Date: Apr 2020
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If Hertz decides to take the route of bankruptcy, it will not be a total liquidation, it will be a reorganization under the protection of a bankruptcy court with all the protections afforded any other company. If that did happen it would be extremely foolish of them to dissolve their Hertz Rewards program. The previous members of that program would be snapped up by Avis and National very quickly in order to gain valuable market share.
Apr 29, 2020, 6:45 am
#9
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Are Avis and National in better shape than Hertz financially?
Apr 29, 2020, 9:44 am
#10
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Apr 29, 2020, 10:46 am
#11
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Terrible idea, IMO. Assuming one has a decent balance of points in both Hertz and an airline program, I wouldn't want to move all those eggs into one basket. There's no reason to think your airline miles aren't equally at risk of vaporizing (not too likely) or massively devaluing (highly likely) as Hertz points.
Loyalty points are constantly devaluing everywhere. Use them as fast as you can. But if you can't use them quickly, at least stay diversified.
Even after routine no-notice devaluations of the program, I find Hertz points pretty useful. Have saved a lot of money over the years using Hertz points for weekly rentals in expensive US locations.
Link to article today on HTZ getting ready for possible bankruptcy filing:
https://www.thestreet.com/investing/...kruptcy-filing
Loyalty points are constantly devaluing everywhere. Use them as fast as you can. But if you can't use them quickly, at least stay diversified.
Even after routine no-notice devaluations of the program, I find Hertz points pretty useful. Have saved a lot of money over the years using Hertz points for weekly rentals in expensive US locations.
Link to article today on HTZ getting ready for possible bankruptcy filing:
https://www.thestreet.com/investing/...kruptcy-filing
Last edited by Herb687; Apr 29, 2020 at 10:51 am Reason: link to article
Apr 29, 2020, 10:55 am
#12
Join Date: Apr 2000
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Hertz misses lease payment, preps for potential bankruptcy
Story here: https://www.foxbusiness.com/money/he...ial-bankruptcy
Hertz Global Holdings Inc. is preparing for a possible bankruptcy filing after the rental-car company failed to make lease payments to preserve cash amid the Covid-19 pandemic, according to people familiar with the matter.
The rental-car company and its advisers are negotiating with senior lenders and certain holders of its vehicle finance subsidiary's notes with the aim of temporarily reducing payments, the company said Wednesday in a securities filing.
The situation is fluid, the people familiar with the matter said, adding that Hertz is in talks with lenders on a forbearance agreement to waive a default and to potentially avoid bankruptcy.
Hertz Global Holdings Inc. is preparing for a possible bankruptcy filing after the rental-car company failed to make lease payments to preserve cash amid the Covid-19 pandemic, according to people familiar with the matter.
The rental-car company and its advisers are negotiating with senior lenders and certain holders of its vehicle finance subsidiary's notes with the aim of temporarily reducing payments, the company said Wednesday in a securities filing.
The situation is fluid, the people familiar with the matter said, adding that Hertz is in talks with lenders on a forbearance agreement to waive a default and to potentially avoid bankruptcy.
Apr 29, 2020, 12:00 pm
#13
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At this point the lenders/banks would be crazy not to work out an forbearance agreement. They'd eventually end up with a pile of rapidly depreciating property (vehicles) otherwise and not much else.
Apr 29, 2020, 12:21 pm
#15
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Fyi you can use a trick to get the old much more functional Hertz website interface to come up...
Go to the deals>offers menu link on the website. Pick a coupon deal a $s off rental. You'll be presented with the old interface, but if you navigate away the new will come back at this point.
Log in to your account via the 'login' link in upper right. It'll keep you on the same deals page.
Go through the process like you are making a rental, enter city, dates etc. Once the list of cars come up, now you can navigate to other links on the site and the old interface will stick.
Unfortunately it only sticks as long as you are logged in... once that times out the new interface comes back and you ave to do the above workaround again.
Go to the deals>offers menu link on the website. Pick a coupon deal a $s off rental. You'll be presented with the old interface, but if you navigate away the new will come back at this point.
Log in to your account via the 'login' link in upper right. It'll keep you on the same deals page.
Go through the process like you are making a rental, enter city, dates etc. Once the list of cars come up, now you can navigate to other links on the site and the old interface will stick.
Unfortunately it only sticks as long as you are logged in... once that times out the new interface comes back and you ave to do the above workaround again.