Sun, 23 Dec 2018 - 01:55 GMT
Sun, 23 Dec 2018 - 01:55 GMT
CAIRO – 23 December 2018: Ezz Elarab has acquired AVIS Egypt- the world-renowned car rental brand. The acquisition lends a natural synergy to the existing rental brand, BUDGET Egypt, which is also owned by Ezz Elarab. Through this coalition, AVIS BUDGET GROUP and its partners aim to provide the latest mobility solutions in Egypt.
Mark Servodidio, President, International, AVIS BUDGET GROUP said:
“Ezz Elarab has a proven track record in being a very successful partner of ours, and we welcome them as licensee of AVIS in Egypt. This is a very important region to us, and we are excited to continue and grow our partnership with Ezz Elarab.”
Hisham Ezz Elarab, Chairman, Ezz Elarab GROUP, stressed that “The acquisition will aim to preserve the two brand identities in the market and will exchange back office logistics and technologies. AVIS will focus on targeting the growing premium segment, while BUDGET will focus on the value minded customer. The GROUP would ensure the provision of services such as rentals and operational leasing, in addition to all-inclusive resort services, such as shuttle busses, limousine service, car rental and preowned car sales.
Ezz Elarab added that all the customer touch points will be to the highest international standard and will be equipped with the latest technologies that meet the needs of customers explaining that the acquisition coincides with the state's efforts to enhance tourism and to develop the investment sector which has seen and continues to see great growth. AVIS BUDGET Egypt will enable us to meet the needs of customers and introduce unique, advanced and exceptional mobility solutions to the market”.
Ezz Elarab acquires AVIS Egypt
According to a statement by Nevine El-Labban, Chairwoman, AVIS BUDGET Egypt, the new partnership will turn AVIS BUDGET Egypt into the strongest entity of its kind in the Egyptian car market, aiming to reach a fleet of 1000 cars in 2019 and a network of 50 locations, building on the brands’ existing presences in Cairo, Alexandria, Hurghada, and Sharm El-Sheikh. AVIS BUDGET Egypt will also establish its new state-of-the-art flagship HQ in the beginning of 2019, situated directly opposite Ezz Elarab’s HQ on the Cairo-Alex Desert road.
The network expansion plan aims to cover different areas across the country throughout 2019 , noting that AVIS BUDGET Egypt will provide its customers with the same services offered by the mother company on a global level. Customers in Egypt will also benefit from exclusive access and discounts to AVIS BUDGET GROUP’s global network, which includes over 11,000 rental locations in 180 countries around the world.
El-Labban added that AVIS BUDGET Egypt will provide the Egyptian market with services that are in line with the changing demands and offerings of the international market:
“With a growing consumer demand and consciousness for more versatile mobility solutions, AVIS BUDGET Egypt has the know-how, technology and operational expertise to introduce a seamless mobility experience across all segments of the Egyptian market”.
About AVIS BUDGET GROUP
AVIS BUDGET GROUP, Inc. is a leading global provider of mobility solutions, both through its AVIS and BUDGET brands, which have more than 11,000 rental locations in approximately 180 countries around the world, and through its Zipcar brand, which is the world's leading car sharing network, with more than one million members. AVIS BUDGET GROUP operates most of its car rental offices in North America, Europe and Australasia directly, and operates primarily through licensees in other parts of the world. AVIS BUDGET GROUP has approximately 31,000 employees and is headquartered in Parsippany, N.J.