Chief Executive Officer of Itel-BPO Solutions Yoni Epstein, along with partners including Tony Davis, former Vice President of International Sales at the Dollar Thrifty Group, have acquired an 85 per cent stake in Car Rental 8.com.
Headquartered in Tampa, Florida, Car Rental 8.com is an online car rental brokerage industry offering car rental services in 125 Countries serving 17,000 locations. Customers book car agencies online including Hertz, Sixt, Avis, Dollar, Thrifty, Alamo, Enterprise, National, Budget, EuropCar and Fox Rent A Car for domestic and international travel.
The new owners said in a release that Car Rental 8.com makes over 65,000 bookings annually with 80 per cent of the business coming from US domestic travel and the remaining 20 per cent via inbound to the US. They have committed to growing the company a further 25 per cent per annum.
Epstein commented in the release, “Car Rental 8.com is a dream company; it has a technological platform that is built for speed and scale. Furthermore, the rental car industry is worth $51 billion and has an expected CAGR of 13 per cent. So if you take those factors, add a team that has spent over 25 years in the industry, robust technology, an asset light business model, call center experience and the opportunity to create more jobs in Jamaica; it’s a dream investment.”
Epstein’s Itel-BPO currently manages 50 per cent of Car Rental 8’s sales and customer service from Jamaica, he indicated.
Tony Davis, has been named CEO and will manage day-to-day operations from its corporate head office in Tampa with Epstein to serve as the company’s Chairman.
Yves Boyer, founder of the company remains a partner . The goal of the company Epstein said is, “To open up the Caribbean market inbound to the US as well as the Latin American market to the US, US to UK, UK to US, Europe to Europe and grow the Asia to Hawaii market too.”
The rental car industry – is currently estimated at US$51billion and is expected to double by the year 2020.