Hertz Global Holdings chairman and CEO Mark Frissora told a Bank of America Merrill Lynch Leveraged Finance Conference that fourth-quarter car and equipment rental pricing has improved compared to three months ago, with more room for improvement next year.
For equipment rental, Frissora said demand was strong in most major markets and pricing should improve in 2012 and 2013, moving closer to the level achieved in 2007 before the worldwide recession.
Frissora said the car-rental division reported strong results in the first three quarters of the year, as the car rental industry benefited from increased business and leisure travel demand.
