Turo, the peer to peer car rental marketplace, announced it raised a fresh $92 million from Mercedes (and others). This is a great thing for the car rental market. But could also be the end of car rental as we know it.
Most companies optimize prices to either gain marketshare or maximize profit. When marketshare is the goal, costs can largely be ignored–assuming you are a company such as Uber or Amazon and can afford to lose a lot of money for a long time, you price primarily to stimulate demand. When profit is the goal, you have to know your costs to set prices.
The 2017 Total Solar Eclipse is a big deal. Portland alone expects an influx of about one million visitors during the special weekend. The town of Rexburg, Idaho (population 28,000) expects half a million. And it's creating headaches for many travel companies. Let's take a look at Hertz–and why they're canceling hundreds of reservations.
CEO of Perfect Price, Alex Shartsis, joins CEO of Outlier AI, Sean Byrnes, to discuss AI and the business of rental cars.
Imagine putting on a performance for an audience–but nobody shows up. Sucks, right? Some people just lived with that reality, figuring, it's normal. But Kevin Stutz, CEO of Ace Rent A Car, thought differently.
Here's how Kevin took on an industry scourge–the no show–and won. With real numbers.
A popular misconception about artificial intelligence (AI) is that it will replace humans. Just like machines on the factory floor, these robots-in-the-cloud will do the jobs of everyday people. While it now seems clear that manufacturing robots do eliminate human jobs, the same is not true for AI. In fact, quite the opposite.
Would you promise to send a rocket to Jupiter before you proved you could get one into space at all?
The International Car Rental Show is a once a year gathering covering everything car rentals. For $695 you get to spend a few days in Las Vegas with some of the most interesting companies in the industry.
Three subjects dominated. Artificial intelligence made up 90% of my conversations. But the other two were perhaps more surprising.
Did you think car rental companies make money from renting cars?