TULSA, Okla., Sept. 8 /PRNewswire-FirstCall/ -- Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today announced the sale of the Dollar Rent A Car franchise in Oklahoma City, Okla., which includes the in-terminal airport operation at Will Rogers World Airport. This marks the 11th conversion of a corporate store to a franchised operation in 2009 as part of Dollar Thrifty's ongoing strategy of re-franchising smaller airport markets. These 11 locations operated with approximately 1,200 vehicles on average during 2008.
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"Interest continues to be high among franchisees and prospective franchisees who have expressed an interest in owning and operating some of the smaller airport markets," said Scott Thompson, President and CEO of Dollar Thrifty Automotive Group, Inc. "We continue to evaluate the proper allocation of our capital resources and see re-franchising certain smaller operations as beneficial. Select markets may benefit from an owner-operator model, while Dollar Thrifty, in return, is provided with a much better return on its capital. While we will continue to operate in the Top 75 airport markets, we enjoy the flexibility that re-franchising affords us."
Purchasing the Dollar Rent A Car franchise in Oklahoma City is TAG OKC, Inc., owned by Joe Bugg, Wendell Steward, and Lisa Dahlgren. They are currently the Thrifty Car Rental franchisee in Oklahoma City, operating in-terminal at Will Rogers World Airport, and have been Thrifty franchisees since Sept. 2003. Owners Bugg, Steward and Dahlgren are all long-term residents of Oklahoma City.
"We are pleased to be able to extend this franchise opportunity to one of our long-term licensees," said Thompson. "TAG OKC, Inc. has been an excellent partner, and we are excited about the opportunities they have with the Dollar Rent A Car brand in Oklahoma City. Quality franchisees will continue to play an integral role in our Company and our future."
In addition to Oklahoma City, other markets that DTG has re-franchised this year are:
-- Dollar Rent A Car: Melbourne, Florida; Smyrna and Norcross, Georgia; and Knoxville, Tennessee. -- Thrifty Car Rental: Melbourne, Florida; Smyrna, Cumming and Norcross, Georgia; Omaha, Nebraska, and Knoxville, Tennessee.About Dollar Thrifty Automotive Group, Inc.
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 over 70 countries. Dollar and Thrifty have over 700 corporate and franchised locations in the United States and Canada, operating in virtually all of the top U.S. and Canadian airport markets. The Company's approximately 6,800 employees are located mainly in North America, but global service capabilities exist through an expanding international franchise network. For additional information, visit www.dtag.com or the brand sites at www.dollar.com and www.thrifty.com.
SOURCE Dollar Thrifty Automotive Group, Inc.
