UK car rental debuts in Mideast
UK-BASED car hire company, Rhino, has launched its operations in the Middle East, after signing a strategic agreement with UAE-based TIME Hotels. With this partnership in place, TIME will be able to offer ‘live’ car rental bookings through its own website. Real time rates and availability will be visible to the millions of online visitors that log on to TIME Hotels’ website every year.
“We wanted to partner with Rhino, principally because their entire business strategy is built on offering exceptional value-for-money, in a rate sensitive sector, without compromising on operational quality, or customer service. That’s something we believe in very strongly and the bedrock of our own brand,” said Mohamed Awadalla, CEO, TIME Hotels.
Goldstein Research analyst forecasts the UAE car rental and leasing market is anticipated to grow at a CAGR of more than 9 per cent between 2017-2025, as investments by the new and existing market players in the region is expected to upsurge in coming years. With the increased number of tourist arrivals year-on-year and the impending Expo 2020, the growth of the car rental and leasing market is forecast to continue unabated. The self-driving segment, at a CAGR of 12.4 per cent is likely to be the fastest growing segment over the next five years.