sacramento airport car rentals

sacramento airport car rentals
Vanguard Car Rental Group Inc. hopes to millions through a public stock offering - throw new light on many of the shops in the process.

The Tulsa-based owner of National Car Rental and Alamo Rent A Car filed a registration statement with the Securities and Exchange Commission on Wednesday for a common stock offering on the New York Stock Exchange under the symbol VCG. Some of the details of the submission will remain undetermined. JP Morgan Securities and Morgan Stanley were joint global bookrunner coordination with Bear, Stearns & Co. and Goldman, Sachs & Co. as joint bookrunner.

Most Popular Articles in Business
Research and Markets: Tesco Plc - SWOT Framework Analysis
Us a Flavor - Ben & Jerry's a Call for Euphoric New Flavors
eBay made easy: ready to start an eBay business? These 5 simple steps will ...
Katrina's lawsuit growth: a legal battle for the insurers to pay for flood ...
Wal-Mart's newest distribution center opened last month near the southwest ...
More »

Display

Vanguard - led by William E. Lobeck Jr. of Tulsa, husband of Mayor Kathy Taylor - intends to make the net proceeds to pay a portion of the $ 800 million term loan facility at the 14th June, and for other general purposes.

In its SEC filing, the company last month, their inclusion in Delaware as the parent company of the National Holding Company, which is in the business since 1947, and Alamo, since 1973. Vanguard Car Rental Holdings LLC was incorporated into the merged parent company.

The prospectus noted, Cerberus Capital Management LP, through certain Cerberus-affiliated funds and managed accounts, has a clear majority of the Vanguard Equity. With the financing of Cerberus, Vanguard Car Rental USA, bought Alamo and National brands from bankrupt ANC Rental Corp. in 2003. It has its headquarters at Tulsa the following year.

Vanguard recorded $ 701.8 million in revenue for the first quarter, up 6.9 percent from $ 655.9 million the year before. With $ 19.2 million in profit before taxes, Vanguard with a 14.9-percent of net income to $ 10 million from $ 8.7 million for the first three months of 2005.

This came on a 7-percent increase in 2005 revenue to $ 2.89 billion from $ 2.7 billion in 2004. While the company posted $ 184.8 million Profit before taxes, its net income plunged 38.6 percent last year to $ 105.3 million from $ 171.7 million in 2004, due to the higher total costs and expenses, and increased taxes.

In the 30 billion U.S. dollars worldwide rental car industry, the prospectus noted Vanguard monitors a 82-country network of 3,800 company-owned, licensed and franchised locations, which operates a fleet of 298,000 vehicles at the 31st March.

We believe that we are a leading brand in conjunction market based on revenue in each of Canada and the United Kingdom, the on-and off-airport locations, according to the document.

But Vanguard focuses its activity primarily on the $ 19 billion U.S. market, which the SEC prospectus showed, said a 4.9-percent compound annual growth rate from 1991 to 2005, cited Auto Rental News. The prospectus, Vanguard said about 77 percent of the 2005 rental income in the United States - and 97 percent out of or in the vicinity of the airport locations.

The segment with a 40.6-percent increase in profit for the first quarter, to $ 45.3 million. Rental revenue per day increased 5 percent this quarter to $ 42.24, even as a rental rose 1.7 percent to 16.16 million.

On the basis of 2005 airport concessionaire revenue data, Vanguard claimed the third largest combined brand market share in the top 125 U.S. airports at which it is our own National or Alamo locations. The U.S. on-airport rental market represented 60 percent of total U.S. Car Rentals in 2004, the prospectus said quoting Datamonitor.

Industrial growth in the U.S. on-airport car rental is primarily due to economic growth, which in turn stimulates traffic or enplanements, the document said. From 2002 to 2005, U.S. airline enplanements increased by 5.2 percent per year, according to the U.S. Department of Transportation. From 2005 to 2009, U.S. domestic enplanements are expected to reach an annual growth rate of 2.4 percent per year, based on U.S. Department of Transportation estimates.

But it remains a competitive industry. The prospectus notes that the combined market share of the National and Alamo brands in the top 125 U.S. airports to which we are a company owned location, declined from 29.0 percent to 20.5 percent in the period 1999 to 2005.

National used to frequent renters with a customer base of more than one third of the Fortune 500, said the prospectus.

U.S. companies National Business Account is a strong growth, which is reflected by a 18.5-percent in U.S. revenue from the rental of corporate customers in the first quarter of 2006, the SEC filing said. Total revenue from rental Emerald Club members increased 14.6 percent in the first quarter of 2006.

Alamo, which offers tourists, has preferred provider agreements with leading national and international tour companies, airlines and online and offline merchants traveling.

Multi-year contracts with national and international tour operators and major airlines provide Alamo access to a large customer base, the document said. In addition, Alamo has marketing and distribution agreements with leading internet travel sites like Expedia, Orbitz, Travelocity and Priceline.