ST. LOUIS, Nov. 3, 2016 /PRNewswire/ -- Enterprise Holdings Inc. and its affiliate Enterprise Fleet Management Inc. grew total revenues by 8.1 percent to more than $20.9 billion, increased overall fleet size to almost 1.9 million vehicles, and expanded their network to include more than 9,600 fully staffed locations during fiscal year 2016 (ended July 31).
"We not only are seeing consistent and significant growth in U.S airport market share, but also across our business lines and in local neighborhoods," said Pamela M. Nicholson, President and Chief Executive Officer at Enterprise Holdings Inc., which owns the Enterprise Rent-A-Car, National Car Rental and Alamo Rent-A-Car brands.
"Consider that our customers are logging more than 25 billion miles throughout the world every year. And many of those miles are driven locally in their very own communities, mostly in late-model, fuel-efficient vehicles," Nicholson noted. "That means our business offers some of the most effective and sustainable options in the ground transportation sector today – and we will continue to do so, even as infrastructure and technology, including autonomous vehicles, evolve in the future."
Today, the Enterprise, National and Alamo brands operate in more than 85 countries and territories, including North America, Central America, South America, the Caribbean and Europe, as well as parts of Asia, the Middle East and Africa. "We at Enterprise Holdings are proud of our leadership role in the car rental, travel and automotive industries," Nicholson said. "Every single day, Enterprise, National and Alamo employees put customers first – regardless of whether the rental is across town or halfway around the world."
That kind of corporate culture and award-winning customer-service is the key to Enterprise Holdings' network of regional subsidiaries and franchise locations. During FY2016, Enterprise Holdings added franchise locations in Belize, Ecuador, Jamaica, Jordan, Honduras, Luxembourg, Mexico, New Zealand, Qatar, Saudi Arabia, Tortola, Trinidad & Tobago, Turks & Caicos, the United Arab Emirates and Uruguay.
Such strategic growth, combined with a conservative and disciplined long-term business approach, provides Enterprise Holdings a distinct competitive advantage, both domestically and internationally. For example, Enterprise Holdings is the largest car rental service provider in the world measured by revenue, fleet and employees. The annual revenues of Enterprise Holdings and Enterprise Fleet Management also rank near the top of the global travel industry, ahead of many airlines and most cruise lines, hotels, tour operators and online travel agencies.
In the U.S., Enterprise Holdings – if publicly traded – would rank on Fortune's list of the 500 largest public companies. It currently is ranked on the Forbes list of America's Largest Private Companies. In addition, among all North American car rental companies, it has the lowest leverage ratio and is the only one with an investment-grade rating. Furthermore, Enterprise Holdings' portfolio of car rental brands now accounts for 37 percent of U.S. airport market share – compared to 28 percent in 2007.
The Enterprise brand covers more than 5,800 neighborhood and airport offices in the U.S. alone, all strategically positioned to partner with insurance companies and government agencies assisting with disaster recovery. These Enterprise offices – conveniently located within 15 miles of 90 percent of the U.S. population – also are able to help meet the diverse transportation needs of American consumers, whether it is for an hour, a day, a week or longer.
"That's precisely why Enterprise's latest brand-positioning campaign delivers a 'Rent.Buy.Share' message," Nicholson said. "The Enterprise network has always been unique, because it delivers a total transportation solution unlike any other service provider out there." Other transportation services marketed under the Enterprise brand name include Enterprise CarShare, Enterprise Rideshare, Enterprise Car Sales, Enterprise Truck Rental, Exotic Car Collection by Enterprise, Zimride by Enterprise and Enterprise Flex-E-Rent.
Enterprise Holdings' affiliate Enterprise Fleet Management currently manages more than 430,000 vehicles in North America, providing full-service fleet management for companies, government agencies and organizations with medium-sized fleets. During FY2016, Enterprise Fleet Management's revenue grew 12 percent by increasing its customer base in more than 50 locations in the U.S. and Canada. It also earned national recognition for its continued investment in technology – earning a spot on InformationWeek's "Elite 100" list and being named "Most Innovative Company of the Year" at the 2016 American Business Awards.
Family Owned and Operated
FY2016 marked the passing of Enterprise founder Jack C. Taylor, who established the company in 1957 and pioneered the concept of a nationwide neighborhood car rental network in the U.S. Enterprise Holdings and Enterprise Fleet Management are still owned by the Taylor family of St. Louis and, as privately held businesses, do not disclose net income.
Jack's two children are continuing his legacy and serving in senior management positions: his son, Andrew C. Taylor as Executive Chairman of Enterprise Holdings, and his daughter, Jo Ann Taylor Kindle as President of the Enterprise Holdings Foundation. Two of Jack's granddaughters also serve key roles: Christine Taylor as Executive Vice President and Chief Operating Officer of Enterprise Holdings, and Carolyn Kindle Betz as Vice President and Executive Director of the Enterprise Holdings Foundation.
As a family-owned business, Enterprise Holdings intuitively operates with the next generation in mind and with a deep sense of stewardship – continuously balancing the interests of customers, employees and the parts of the world touched by its business. That means the Taylor family's focus on long-term strategy not only supports Enterprise's business success, but also its community-focused philanthropy.
As part of that commitment, the Enterprise Holdings Foundation provided $27.3 million in grant funding to charitable causes during FY2016. Eighty-nine percent of the grant requests the Foundation fulfilled came from employees to help community causes they personally champion and actively support. Large-scale donations in 2016 included support for the American Red Cross Annual Disaster Giving Program, and the Canadian Red Cross Fort McMurray, Alberta, disaster relief efforts, among others.
Enterprise Holdings' corporate sustainability program also complements the company's long-term financial and operational success. To that end, Enterprise Holdings has just published its FY2016 sustainability report update, highlighting key initiatives such as responsible product lifecycle and growth of urban mobility programs.
"We are seeing more and more questions about sustainability issues and metrics as part of the formal RFP process," stated Nicholson. "That is because major corporate accounts with defined sustainability goals – including Enterprise Holdings – are evaluating and measuring their respective supply chains to a much greater degree than ever before."
Enterprise Holdings is the only company in the international car rental industry – and one of a handful in the global travel industry – to complete its sustainability reports and updates in accordance with Global Reporting Initiative (GRI) G4 "Core" Guidelines. This annual documentation articulates goals and provides transparency as well as accountability for Enterprise Holdings and its key stakeholders.
For more information about Enterprise Holdings Inc., visit www.enterpriseholdings.com.
This press release and car rental industry news are available in the Enterprise Holdings Press Room. The Enterprise Holdings Press Room also includes Fact Sheets for car rental brands and business divisions as well as awards and other reports.
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SOURCE Enterprise Holdings Inc.