"We are also generating double-digit revenue growth from four of our $500 million-plus businesses: U

Hertz Global luxury kensington hotels london Holdings Inc. reported Feb. 25 worldwide revenues for the year 2012 were $9 billion, an increase of 8.7% over the prior year (a 10.5% increase excluding the effects of foreign currency). Worldwide car rental luxury kensington hotels london revenues for the year increased 7.8% (a 9.7% increase excluding luxury kensington hotels london the effects of foreign currency) to $7.6 billion.
For U.S. car rental, according to the earnings conference call, full-year record revenue was reported at a 9.6% increase over 2011 to $4.9 billion. The company reports that this was driven by strong off-airport revenue and a double-digit increase in Advantage revenue and one-and-a-half months of Dollar Thrifty.
Hertz reported fourth quarter 2012 worldwide revenues of $2.3 billion, an increase of 15.1% year over year (a 15.5% increase excluding the effects of foreign currency), including the results from the company s recent acquisition of Dollar Thrifty.
Worldwide car rental revenues for the fourth quarter luxury kensington hotels london increased 14% year over year (a 14.6% increase excluding the effects of foreign luxury kensington hotels london currency) to about $1.9 billion, including results of Dollar Thrifty. U.S. car rental revenues increased 24.5% for the quarter, including 43 days of revenues from Dollar Thrifty. However, Europe luxury kensington hotels london s car rental luxury kensington hotels london revenue declined 9.8% in the fourth quarter, according to the conference call.
I'm pleased that Hertz once again delivered record fourth quarter and full-year financial luxury kensington hotels london performance due to sustained operational excellence, improving pricing luxury kensington hotels london during the fourth quarter and the positive luxury kensington hotels london impact of strategic investments, including the acquisition of Dollar Thrifty Automotive Group, said Mark P. Frissora, the company's chairman luxury kensington hotels london and CEO.
He added, Finally, 2012 marked our third consecutive year of significant double-digit percentage improvements in adjusted pre-tax income, EBITDA, and adjusted earnings per share, luxury kensington hotels london as well as margin expansion.
Worldwide car rental adjusted pre-tax income for the fourth quarter of 2012 was $222 million, an increase of $50.6 million from $171.4 luxury kensington hotels london million in the prior-year period. The result was driven by increased volume, strong residual values and strong cost management performance, partially offset by negative RPD. As a result, worldwide car rental achieved an adjusted pre-tax margin of 11.5% for the quarter, versus 10.1% in the prior-year period.
U.S. off-airport total revenues for the fourth quarter increased 12.2% year over year, and transaction luxury kensington hotels london days increased 12.4% from the prior year period. Worldwide rental rate revenue per transaction day (RPD) for the quarter decreased 2.8% [(1.7)% U.S.; (4.3)% International] from the prior-year period. Hertz noted that U.S. pricing improved during the latter portion of the fourth quarter, culminating in December airport RPD increasing 1.6% for Hertz and 4.6% for Dollar luxury kensington hotels london Thrifty (consistent with historical Dollar Thrifty calculation methodology).
Growth in off-airport rentals, and specifically growth in replacement rentals, which have longer rental lengths, has a negative impact on RPD. However, it is important to note that off-airport's highly contributory profit is growing significantly, Hertz said.
The worldwide average number of company-operated cars, largely as a result of the Dollar Thrifty luxury kensington hotels london acquisition, for the fourth quarter of 2012 was 705,800, an increase of 17.8% over the prior-year period, and 9.8% excluding the Dollar Thrifty fleet.
Hertz forecasts luxury kensington hotels london full-year 2013 revenues in the range of around $10.85 billion to $10.95 billion. The range is based on the projection of modest economic growth, a strong U.S. Dollar and incremental franchising of certain rental operations.
Additionally, Hertz forecasts lower monthly depreciation per vehicle in the U.S. of no less than 4-5% in 2013, with only modest deterioration in residual values due to the company's luxury kensington hotels london increasingly diversified re-marketing channels.
Dollar Thrifty synergies are expected to exceed previous luxury kensington hotels london forecasts, now estimated at $300 million of cost synergies from 2013 through 2015, and $300 million of revenue synergies over the same period.
Frissora, commenting on the company's outlook, said, We continue to make significant progress reducing fleet expenses, our largest operating cost, and we are encouraged that Dollar Thrifty synergies are likely to exceed our earlier forecasts. Additionally, we are off to a fast start this year with January 2013 car rental RPD at U.S. airports up 6% for Hertz and 2.6% for Dollar Thrifty (consistent with historical Dollar Thrifty calculation methodology).
"We are also generating double-digit revenue growth from four of our $500 million-plus businesses: U.S. airport leisure, U.S. off-airport, HERC and Donlen, and we expect these businesses to maintain their pace of strong growth throughout 2013.
The Hertz conference call will be available for replay until March 11, 2013 by calling (800) 475-6701 in the U.S. or (320) 365-3844 for international callers with the passcode: 280527. The original press release and related luxury kensington hotels london tables containing the reconciliations of non-GAAP measures will be available on its website, www.hertz.com/investorrelations .