Hertz operator eyes bigger slice of car rental market
Executive chairman of Norbrook Equity Partners, Khary Robinson, says he has grown his share of the car rental market to 15 per cent since acquiring the Hertz franchise last year, but is angling for more.
Norbrook's foray into the car rental business has benefited from the strength of the American brand, he told Gleaner Business.
"Hertz is the fourth largest car rental in the country with approximately 15 per cent market share, but we are doing some interesting things to change that. The difference between the players is not big. Also we have a higher share of the market based on revenues because we are historically so not compete on price but on quality, service and brand," Robinson said.
He did not specify the target.
Norbrook Equity acquired the Jamaican franchise for Hertz Car Rental through its wholly-owned subsidiary Norbrook Car Rental Limited in August 2016. It also became the first Caribbean franchisee to operate Firefly Car Rental, a 'value' rental car brand owned by Hertz International.
In the same month, ATL Automotives, a member of the ATL Group, secured the franchisee for its Enterprise Rent-A-Car, National Car Rental and Alamo Rent A Car brands in Jamaica. The agreement brought all three Enterprise Holdings brands to tri-branded facilities throughout the island starting in late 2016.
Robinson said that Hertz's loyalty program was "four times" the size of its closest competitor.
"The problem in Jamaica is that the previous owner just didn't want a fleet larger than a certain size," he commented.
Norbrook Car Rental has grown its fleet of vehicles to more than 330 and currently operates from two on-airport and two off-airport locations - namely Norman Manley International Airport, Sangster International Airport, 28 Sunset Boulevard in Montego Bay and 109 Old Hope Road in Kingston.
Norbrook is a diversified group started in 2008, whose business holdings include transportation, courier services, ecommerce logistics, bottled water and landscaping.