Dollar Thrifty Automotive Group Acquires Thrifty Franchise Operations in Rhode Island
Acquisition Includes Parking Operation in Providence
TULSA, Okla., March 31 -- Dollar Thrifty Automotive Group, Inc. today announced the acquisition of the Thrifty Car Rental franchise operations in Providence, Rhode Island. The acquisition includes an airport car rental operation as well as an off-airport parking business. The terms of the transaction, effective April 1, were not disclosed.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020412/DTGLOGO )
The Providence operations were sold by Joni Auto Rentals, Inc., owned by Thomas Celona, John Geraci and Gary Taravella. Celona has been a successful franchisee with Thrifty Car Rental for 37 years, having opened Joni Auto Rental's first Thrifty Rhode Island location in 1969. For many years, they have consistently ranked #1 in customer service in the Thrifty Car Rental system. Joni Auto Rentals will continue to own and operate several Thrifty Car Rental local market stores and Thrifty Car Sales dealer locations.
"We are extremely pleased to bring these operations into the Dollar Thrifty corporate fold," Jay Foley, Senior Executive Vice President - Corporate Operations, said. "Thrifty Providence is a key addition for the Company's corporate network. In addition to being strategically located in the Northeast corridor, the Providence operation has established an impressive reputation for providing excellent customer service which we look forward to continuing."
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 1,600 corporate and franchised worldwide locations including over 800 in the United States and Canada. The Dollar or Thrifty brands operate in virtually all of the top U.S. airport markets; both brands operate in all of the top Canadian airport markets. The Company's more than 8,400 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.
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20020412/DTGLOGOAP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com