Avis (CAR) Chosen as Pebble Beach's Official Rental Partner - Analyst Blog
In line with its expansion strategy, Avis Budget Group, Inc.CAR penned a multi-year deal with Pebble Beach Resorts, per which the former will be the latter's "Official Car Rental Partner." This deal will make Avis the rental partner of The Lodge at Pebble Beach, The Inn at Spanish Bay and Casa Palmero.
Additionally, Avis will form part of Pebble Beach's website, in addition to being incorporated in the latter's guest newsletters and other collaterals. Also, the nation's leading car rental company will be found on-site at the resort. The partnership will thus enhance the promotion of Avis Budget's brand, products and services by extending its reach to resort guests.
Situated in California, Pebble Beach Resorts is particularly popular among golfers. This will likely strengthen Avis Budget's position in the golf community. Guests at the resort can easily book Avis cars while making hotel reservations or booking golf tee time at the Pebble Beach.
Moreover, this partnership will enable customers to rent Lexus vehicles at Avis Budget's locations, including San Francisco International Airport, Mineta San Jose International Airport and Monterey Regional Airport.
Avis Budget's expansion strategy has been in full swing via alliances, acquisitions and joint ventures. In an effort to enhance its global footprint, the company invests in other growing markets where car rental demand is increasing.
Apart from the aforementioned deal, the company has set other examples which highlight its focus on expansion. Some of these ventures include its acquisition of Italy's leading car rental company, Maggiore, its partnership with Inspirato, the acquisition of Zipcar, and its partnership with PortAventura, a popular theme park and resort in Spain.
Avis Budget currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the same industry include comScore, Inc. SCOR and WageWorks, Inc. WAGE , each with a Zacks Rank #2 (Buy). A top-ranked stock in the broader business services sector is Navigant Consulting Inc. NCI , with a Zacks Rank #2.
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