Thrifty Car Rental is a subsidiary of The Hertz Corporation with headquarters in Estero, Florida. Formerly operating as Dollar Thrifty Automotive Group, Thrifty shares 340 corporate and 1,500 franchise rental car locations in the United States and Canada with Dollar Rent A Car as of February 2017.
Video Thrifty Car Rental
Company History
Thrifty Car Rental was established in 1958 as an indirect subsidiary of Thrifty Rent A Car System, Inc. Thrifty expanded their rental services with the purchase of Ohio-based Snappy Car Rental, Inc. for $40 million USD in May 1989.
By the end of 1989, Thrifty agreed to be purchased by Chrysler Corporation for $263 million USD with the intent to merge Thrifty with its Pentastar Transportation Group. With focus on value-priced car rentals, Chrysler announced Thrifty Car Rental and Dollar Rent A Car would combine into Dollar Thrifty Automotive Group with the intent to reduce operating expenses in 1997. This rebrand was overseen by Chairman and CEO Joseph E. Cappy, serving from 1993-2003.
Dollar Thrifty Automotive filed with the U.S. Securities and Exchange Commission to offer its common stock and was officially traded as DTG on the New York Stock Exchange on December 23, 1997. The same year, Thrifty Car Rental's information processing and reservation management was outsourced to The SABRE Group, Inc. By the end of the 1997 fiscal year, Dollar Thrifty Automotive maintained 872 locations in the United States and employed a staff of 5,400.
In the coming years, fleet sizes and the total number of locations increased in the United States:
- 1999 - 149 company-owned US locations with 123,814 vehicles between Dollar and Thrifty brands
- 2001 - 130,252 cars in service with 540 locations in the US (includes 162 airport locations)
- 2003 - 310 company-owned and 513 franchisee locations in the US
- 2006 - 407 US corporate locations with revenue of $1.534 billion USD
- 2010 - Thrifty's rental system includes 331 locations in the US and Canada.
- 2016 - 4,435 US locations in conjunction with parent company Hertz and sister company Dollar Rent A Car
After ten years with the brand, President and CEO Cappy retired in 2003. Following the announcement, Gary L. Paxton was promoted from Chief Operating Officer to Chief Executive Officer of Dollar Thrifty Automotive Group on October 1, 2003. Paxton was originally appointed to Dollar Thrifty Automotive Group's senior management panel when the purchase of Dollar Rent A Car Systems, Inc. was finalized in 1990. He would now oversee daily management and operational strategies for the car rental brand until retirement in December 2008. Scott L. Thompson, who joined the company as Senior Executive Vice President and Chief Financial Officer in May 2008, stepped in as the newest President and CEO that October.
Former Hertz Global Holdings Chairman and CEO Mark P. Frissora announced the company's purchase of Dollar Thrifty Automotive Group for $2.3 billion USD on November 19, 2012. This resulted in the car rental company to operate the present-day brands of Thrifty Car Rental and Dollar Rent A Car.
Along with Dollar Rent A Car, Thrifty Car Rental is currently overseen by President and CEO of The Hertz Corporation - Kathryn V. Marinello.
Maps Thrifty Car Rental
International Growth
With approximately 1,000 car rental locations in 76 countries and territories by December 2010, Thrifty Car Rental began to focus on enhancing international locations. By 2013, approximately 1,285 international rental locations existed between Hertz, Dollar, and Thrifty brands.
Operating as the largest car rental provider in United Arab Emirates with 18,000 vehicles, Thrifty introduced its first "Thrifty Lounge" at their Burjuman, Dubai branch in February 2017. Lounges provide free WiFi access, coffee, and comfortable seating areas. Parent company Hertz Global Holdings announced Thrifty Car Rental would operate in Colombo, Sri Lanka in May 2017 with the intent to increase area tourism. Rental options include short term, long term, and chauffeur rental services with compact, sedans, luxury cars, SUV, and minibuses. The grand opening was celebrated by Hertz, Dollar, and Thrifty donating a portion of funds to the Sinha Salsewana Girls' Orphanage.
Plans to expand fleet services in Malta were approved in August 2017 in response to increased beach, city, and urban tourism. With car rental storefronts at Malta International Airport, downtown Sliema, and Gozo Harbour, additional European locations are expected in Poland, Turkey, and Hungary. Thrifty Car Rental maintains 472 locations in the US and Canada, as well as 589 storefronts in 77 countries and territories.
Operations and Rental Fleet
With revenue generated from franchising fees and car rental services, Thrifty concentrates on US and Canada airport locations with focus on leisure travelers, tour operators, and small business owners.
Thrifty Car Rental features a diversified rental fleet including Ford, Chrysler, General Motors, Nissan, Hyundai, Kia Motors, and other vehicle manufacturers. A portion of Thrifty's fleet includes "green" vehicles - primarily Toyota Prius and Chrysler "bio-fuel" models.
The Blue Chip Rental Express Program
Thrifty Car Rental's Blue Chip Express Rental Program was introduced in 2008. The free service is available to members in the U.S. and Canada with the following benefits: expedited pickup and returns processes, choosing vehicle type, insurance coverage, designated lines at the counter, and syncing airline rewards.
Awards and Recognition
- 2015 - Thrifty Car Rental was ranked as Twitter's sixth most popular car rental companies
- 2015 - Thrifty's social media and content strategy was ranked among Facebook's top ten car rental companies
- 2017 - Named the official car rental supplier of Australia's Gold Coast Commonwealth Games for 2018
- 2017 - Thrifty, Dollar, and Hertz received a Corporate Responsibility Champion Award by the Council of Corporate Responsibility and National Diversity Council.
References
Source of the article : Wikipedia
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