Dollar Thrifty Automotive Group Acquires New Mexico Operations; Company Now Operates Corporately in the 'Land of Enchantment'
TULSA, Okla., Nov. 1, 2005 -- Dollar Thrifty Automotive Group, Inc. today announced the acquisition of the Thrifty Car Rental operations in New Mexico. The acquisition, which includes an on- airport location at Albuquerque International Airport and local market stores in Albuquerque and Sante Fe, adds approximately 500 vehicles to the company's corporate fleet. The Thrifty New Mexico franchise was acquired from Southwest Car & Truck Rental, Inc., owned by Steve and Christine Reid. The terms of the transaction, effective today, were not disclosed.
"This acquisition provides the Company with a corporate presence in New Mexico," Jay Foley, Senior Executive Vice President - Corporate Operations, said. "In addition to Albuquerque's prominence as the 'International Hot Air Balloon Capital of the World' and Santa Fe's notoriety as 'America's Oldest Capital City,' the area offers tourists a variety of ancient cultures, diverse landscapes and renowned museums. As popular tourist destinations, these locations are a perfect fit with our value position in the leisure travel segment. We look forward to providing the traveling public as well as local customers with outstanding service and quality products."
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; access to reservation distribution channels; 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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