Dollar Thrifty Automotive Group Canada Acquires Dollar Vancouver Franchise
Acquisition Part of Company's Successful Growth Plan - Locations in Eight Major Canadian Markets Now Operated Corporately
TORONTO, Jan. 12 -- Dollar Thrifty Automotive Group, Inc. announced today that its subsidiary, Dollar Thrifty Automotive Group Canada Inc. (DTAG Canada) has acquired the Dollar Rent A Car franchise in Vancouver. The acquisition of this operation, located off airport at Vancouver International Airport completes DTAG Canada's strategy to acquire the eight largest airport markets in Canada. Terms of the transaction were not disclosed.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020412/DTGLOGO )
"The Vancouver acquisition represents a major step in the DTAG Canada corporate strategy to own and operate the airport and principal city locations in the eight major car rental markets in Canada," Yves Boyer, President DTAG Canada, said. "The Vancouver location is of strategic importance as it serves a high volume of leisure renters, particularly international inbound customers during the summer months. Since February 2003, DTAG Canada has more than doubled the number of Dollar locations operating in Canada providing consumers with more choice than ever before in the rental car value category.
"DTAG Canada is a major player in the Canadian car rental market. Our market share is growing at record levels, due to volume increases of over 20 percent in the past 12 months. It's clear consumer travel decisions are increasingly driven by value."
Dollar Thrifty Automotive Group, Inc., a Fortune 1000 Company, is headquartered in Tulsa, Oklahoma, and has approximately 7,000 worldwide employees. Focused on being the low-cost provider in the car rental industry, the company's brands, Dollar Rent A Car and Thrifty Car Rental, serve value- conscious travelers in more than 70 countries. With operations at most major airports, Dollar and Thrifty have approximately 800 corporate and franchised locations in the United States and Canada. Additional information can be found by visiting www.dtag.com .
Some of the statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Dollar Thrifty Automotive Group, Inc. believes such forward-looking statements are based upon reasonable assumptions, such statements are not guarantees of future performance and certain factors could cause results to differ materially from current expectations. These factors include: price and product competition; economic and competitive conditions in markets and countries where the companies' customers reside and where the companies and their franchisees operate; airline travel patterns; changes in capital availability or cost; costs and other terms related to the acquisition and disposition of automobiles; costs of conducting business and changes in structure or operations; and certain regulatory and environmental matters. Should one or more of these risks or uncertainties, among others, materialize, actual results could vary from those estimated, anticipated or projected. Dollar Thrifty Automotive Group, Inc. undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20020412/DTGLOGOAP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com