Cendant to buy Budget for $107.5m
Car rental giants Avis and Budget are to join forces after Avis’ parent Cendant announced it was buying its rival for $107.5m in cash.
Cendant said it will acquire Budget’s operations in the US, Canada, Australia, New Zealand and Latin America, but is seeking another buyer for Budget’s operations in Europe, the Middle East and Africa.
As part of the deal, Cendant is assuming about $2.7bn in vehicle-related debt.
Following the acquisition, which is expected to be completed in the fourth quarter, Budget will continue to operate as a separate and independent brand.
Cendant chairman Henry Silverman said: “Beyond the clear cost efficiencies of combining overhead and administrative functions of Avis and Budget, adding the Budget brand will allow us to reach value-conscious travellers more effectively through our timeshare, travel services and online booking channels.”
Cendant said it did not anticipate changes in Budget’s management or workforce.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Airbnb eyes a loyalty program but details remain under wraps
Airlines suspend Madagascar services following unrest and army revolt
Qatar Airways offers flexible payment options for European travellers
Air Mauritius reduces frequencies to Europe and Asia for the holiday season
Major rail disruptions around and in Berlin until early 2026