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Hertz Might Come out of Bankruptcy, Announces Two Major Buyers
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Domestic Tourism Market May See a Big Move: Omega World, Frosch, Ovation
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American Express Global Business Travel has launched a workspace booking service for remote workers and small teams, the company has announced. Bookings can be made via GBT s Meetings Express platform, which the company launched in 2019 to service small and simple, and recurring meetings. The platform is supported by MeetingsBooker.com.
Dubbed Workspaces, the new service allows customers to make flexible, daytime bookings of meeting venues, co-working spaces, guest rooms with desks, converted suites and small hotel meeting rooms to use as work and collaboration spaces.
GBT said it saw the need for such a service with more people working remotely, companies downsizing corporate office footprints, the rising demand for a workspace outside of one s home, and the need for cost-efficient options for staff to get together where office use is restricted.
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Private equity firms Certares Management and Knighthead Capital Management are teaming up to lead Hertz out of Chapter 11 bankruptcy by July through a $4.2 billion reorganization plan endorsed by the beleaguered Florida-based car rental company.
The two firms are co-sponsors of a reorganization plan, which Hertz Corp. filed Tuesday morning in the U.S bankruptcy court in Wilmington, Delaware. The deal is subject to the approval of creditors and the court.
The 102-year-old Hertz filed for Chapter 11 in May, brought down by the standstill in travel from the pandemic.