Dollar Thrifty Automotive Group Acquisition Program Branches Out to Boise; Company Acquires Franchise Operations in Idaho's 'City of Trees'
TULSA, Okla., Oct. 28, 2004 -- Dollar Thrifty Automotive Group, Inc. today announced an agreement to acquire both the Dollar Rent A Car and Thrifty Car Rental franchise operations located in Boise, Idaho. The acquisitions include in-terminal locations for both the Dollar and the Thrifty brands in the new state-of-the-art Boise Airport, as well as a Thrifty local market store. The terms of the transactions were not disclosed.
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"The key element of our growth strategy is to acquire both Dollar and Thrifty franchisees in key U.S. markets," Jay Foley, Senior Executive Vice President - Corporate Operations, said. "With our focus on serving the leisure travelers, the Boise locations are an ideal fit for us. Boise boasts a myriad of outdoor activities from skiing to river rafting and we look forward to serving its growing base of tourists."
Since announcing its corporate growth strategy to acquire locations in the top 75 U.S. airports from existing franchisees and operate them corporately, the Company has acquired 37 key U.S. and Canadian markets and opened eight new Dollar or Thrifty locations adding approximately 26,000 vehicles, on an annualized basis, to the company's rental fleet.
Dollar Thrifty Automotive Group, Inc. is a Fortune 1000 Company headquartered in Tulsa, Oklahoma. Driven by the mission "Value Every Time," the Company's brands, Dollar Rent A Car and Thrifty Car Rental, serve value- conscious travelers in approximately 70 countries. Dollar and Thrifty have approximately 800 corporate and franchised locations in the United States and Canada, and they have operations at most major airports. The Company's more than 8,000 employees are located mainly in North America, but global service capabilities exist through an expanding international franchise network. For additional information, visit http://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; natural hazards or catastrophes; incidents of terrorism; airline travel patterns; changes in capital availability or cost; costs and other terms related to the acquisition and disposition of automobiles; systems or communications failures; costs of conducting business and changes in structure or operations; and certain regulatory and environmental matters and litigation risks. 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.
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