Agency Rent-A-Car signs letter of intent with Enterprise Rent-A-Car.PARSIPPANY, N.J.--(BUSINESS WIRE)--Dec. 5, 1996--HFS Inc. (NYSE NYSE See: New York Stock Exchange : HFS (Hierarchical File System) The file system used in the Macintosh. The first version, known as "Mac OS Standard," was introduced in 1985. HFS+, an enhanced version, came out in 1998 in preparation for the upcoming Mac OS X operating system. ) announced today this its indirect subsidiary, Agency Rent-A-Car Inc., has signed a letter of intent to sell its insurance replacement rental car business to Enterprise Rent-A-Car. Stephen P. Holmes, HFS vice chairman, said: "We have established very aggressive goals for our newly acquired Avis subsidiary and the sale of Agency will permit Avis management to focus its full attention on meeting and exceeding these objectives." Joseph V. Vittoria, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Avis Inc., added, "We would like to thank all the employees of Agency for their extraordinary efforts over the past year. I am sure that Agency customers will continue to experience the high level of service to which they have become accustomed." HFS Inc. is a global consumer services Consumer Services refers to the formulation, deformulation, technical consulting and testing of most consumer products, such as food, herbs, beverages, vitamins, pharmaceuticals, cosmetics, hair products, household cleaners, [paints, plastics, metals, waxes, coatings, minerals, company. The company is the largest franchisor of hotels and residential real estate brokerage offices, owns Avis Inc., the world's second largest rental car system, and also owns Resort Condominiums International Resort Condominiums International (RCI) is a subsidiary of the firm Wyndham Worldwide (previously Cendant). Founded in 1974, RCI has grown to become one of the larger brokers of timeshare trades. Inc., the largest provider of vacation timeshare exchange services. CONTACT: HFS Inc., Parsippany Michael Wargotz, 201/359-5110 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion