· UK-based international car rental firm Rhinocarhire signs agreement with UAE-based TIME Hotels
· Expo 2020 and 12.4% CAGR growth for UAE self-driving market, provide catalyst for strategic business move
Award-winning, UK-based car hire company, Rhino, has launched its operations in the Middle East, after signing a strategic agreement with UAE-based TIME Hotels.
TIME Hotels is now a contracted affiliate of Rhinocarhire.ae allowing TIME 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 & leasing market is anticipated to grow at a CAGR of more than 9% between 2017-2025, as investments by the new and existing market players in the region is expected to upsurge in coming years. Furthermore, with the increased number of tourist arrivals year-on-year and the impending Expo 2020, the growth of the car rental & leasing market is forecast to continue unabated.
Indeed, based on the rental type, services like chauffeur drive, Uber, or regular taxis, have acquired 45% of the UAE car rental and leasing market. However, on the other hand, the self-driving segment, at a CAGR of 12.4% is likely to be the fastest growing segment over the next five years.
Declan McNaughton, CEO – Middle East, Rhinocarhire.ae, commented: “Given these very encouraging research figures, we are excited about expanding into a dynamic market, with a trusted partner such as TIME Hotels.
TIME Hotels currently has 17 properties in operation across the UAE and wider GCC with new additions in Dubai, Sharjah and Saudi Arabia scheduled for this year as well as extending its presence to Egypt - further supporting TIME Hotels’ strategic business plan to increase its portfolio to 35 properties across the Middle East by the end of 2025.
“With an ‘on the ground’ presence in Dubai, we are confident that we can build on our global success and confident we can bring the Rhino brand to both domestic and international car rental customers in the UAE and wider Middle East. TIME Hotels’ excellent reach and shared vision will certainly support our mission,” added McNaughton.
A family owned and run business, Rhinocarhire has now been operating for 12 years and has built up a car hire offering across 50,000 locations worldwide from 5,000 rental suppliers.
Having arranged over eight million quotes from the leading rental agents around the world, Rhino was voted Best Car Hire Website in the UK in 2018 at the prestigious Travolution Awards in London.
“To stay ahead in this sector customer satisfaction and retention is absolutely fundamental. Our online service is accessible 24/7 365 days a year and we are always on hand to help,” said McNaughton.
For more information on TIME Hotels, please log onto http://www.timehotels.ae/
For more information on Rhinocarhire.ae please log onto https://www.rhinocarhire.ae/