Ctrip Strategy Leads a Car Rental Over $100 Million

The nationwide rental car rental service provider announced today that it has received a strategic injection of over US$100 million from Ctrip, the largest domestic travel network company, and became a successor to the world’s largest car rental group, Enterprise Holdings. The second largest strategic partner.

In an interview with the founder and president of Car Rentals, Mr. Zhang Ruiping said: “We are very honored to be able to become a strategic partner with Ctrip, China’s largest online travel agency, through this capital injection. There will be many opportunities for cooperation between Car Rental and Ctrip in the future. This will provide a better travel experience for domestic tourism and business travelers. Once the deep cooperation between rental car and Ctrip is also very beneficial to the development of the industries where the two companies are located, we are very happy and full of expectations. The car rental industry is increasingly becoming an integral part of the travel of ordinary and business travelers. We feel that such a large environment will provide a lot of opportunities for car rentals and Ctrip to provide better and more convenient services or products.”

In the past few years, China's tourism industry has entered a stage of rapid development. According to market research conducted by PhoCusWright, China had surpassed Japan by 96.2 billion U.S. dollars in 2012 to become the largest travel market in Asia. At the same time, along with the surge in demand, the overall scale of the domestic car rental market has also correspondingly expanded rapidly, and this growth trend is expected to continue due to the emergence of a large number of young travelers, especially car lovers.

In the past few years, Car Rental has successively received several rounds of capital injections from Qiming Venture Capital, Ignition, Jafco, Hanli Capital, CDH Venture Capital, JTF Asia, Goldman Sachs, and Enterprise No. 1 Holding Group. A rental car was established in 2006, mainly for individuals and corporate users to provide short-term rental, long-term rental, as well as personalized custom integrated car rental services, in just a few years to develop into a leading domestic chain of car rental companies. The company has more than 13,000 vehicles and 100 types of vehicles to choose from. At present, it has more than 500 service outlets in China, covering more than 70 cities nationwide and covering the entire country.

Remarks:

Enterprise Holdings Enterprise Holdings was founded in 1957 and is the world's largest provider of car rental services. Through its regional subsidiaries, the company operates the flagship brand Enterprise Rent-A-Car and Alamo Rent A Car and National Car Rental in North America. Alamo, Enterprise and National not only included the top three of “Executive Travel” magazine's 2011 “Excellence Award”, but also took the top 3 in the 2012 North American car rental service satisfaction.

The three brands collectively own more than one-third of the airport car rental business in the United States and Canada. Enterprise Holdings also operates the Enterprise Rent-A-Car brand in the UK, Germany and Ireland, and has a National and Alamo branded affiliate network in the Americas.

Enterprise Holdings' global network includes more than 8,000 blocks and airport operating sites, of which 6,000 business outlets cover a total of 90% of the US national population within a radius of 15 miles - Enterprise Holdings has more outlets than the U.S. largest More than twice as many competitors.

Enterprise Holdings' annual revenue for 2011 was $14.1 billion. The company has more than 70,000 employees and owns and operates more than 1.2 million cars and trucks. In addition, the company’s annual revenue scale has already dominated the tourism industry, surpassing many airlines and most cruise lines, hotels, travel agencies and online travel providers. Enterprise Holdings ranks No. 15 on the Forbes list of the largest private companies in the United States. The company belongs to the Taylor family and is headquartered in St. Louis, Missouri.

Enterprise Holdings and its affiliates provide corporate and retail customers with comprehensive transportation solutions including time charters, car rentals, WeCar car sharing and Enterprise Rideshare carpooling plans, as well as Enterprise used car sales, Enterprise commercial trucks and Enterprise fleet management.

In addition, the company also operates the Enterprise Rent-A-Car brand in the United Kingdom (UK), Germany (Germany) and Ireland (Ireland), and has a national and Alamo branded franchise network in the Americas. Enterprise Holdings also recently acquired and acquired shares of Citer SA in France, Atesa in Spain, and Guerin Car Rental Solutions in Portugal. Its car rental market share in Europe accounts for about 65%.

According to public information, as of the end of 2012, Enterprise Group's car rental network has spread to key developed countries and regions such as Europe and North America, and its fleet of more than 1.3 million units has nearly 8,000 service outlets with a turnover of more than US$15 billion. The company is the largest and most competitive car rental company in the world, regardless of the size of the revenue, number of employees, number of vehicles, and revenue.

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