Thursday, August 31, 2006

Dollar Thrifty Automotive Group Purchases Thrifty Franchise Operations In Phoenix - Update [DTG]

8/31/2006 11:42:56 AM Dollar Thrifty Automotive Group Inc. (DTG), a provider of vehicle leasing services, on Thursday reported the acquisition of Thrifty Car Rental franchise operations in Phoenix. Financial details of the transaction were unavailable.

The Tulsa, Oklahoma-based company said the acquisition also includes an in-terminal location at the new Sky Harbor International Airport consolidated rental car facility, as well as two local market locations. Further, approximately 1,400 vehicles were added to the company's corporate fleet. The Phoenix operations were sold by Cholla Holdings, LLC., owned by Stuart and Laura Boykoff.

Jay Foley, Senior Executive Vice President - Corporate Operations, said. "Phoenix ranks as one of the top five U.S. airport car rental markets and this purchase of the Thrifty franchise operations is another very important link in the execution of the franchise acquisition growth strategy for key U.S. airport markets. The company is aiming at improving operating efficiencies as the Dollar Rent A Car brand is already operating corporately in Phoenix.

DTG is currently trading at $42.67,up $0.22 or 0.52% on a volume of 41,300 shares.

1 Comments:

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