Dollar Thrifty Automotive Group has signed contracts for 13 new franchises, due to be granted within the next two months. The company also stated that an additional 15 franchises have been awarded during the past two quarters, and of the 28 new franchises, 19 will be located in the US, with nine overseas.
Scott L Thompson, President and Chief Executive Officer of the Tulsa based car rental giant, stated the importance of franchises to the Dollar Thrifty corporate strategy. Thompson points out that the expansion of the Dollar Thrifty brand in a cost-effective manner via franchising allows the company to reach smaller domestic markets, as well as make more inroads into the international arena. The corporate head went on to say that the company is pleased with the opportunity to open new franchises, and has further plans for expansion.
Dollar Thrifty Automotive Group includes Dollar Rent A Car and Thrifty Car Rental. The company operates in 81 countries worldwide, has 296 corporate-owned stores, as well as over 1,250 franchises. 600 of the corporate-owned and franchised locations are within the United States and Canada, and the company employs over 6,000 workers.
Dollar Thrifty Automotive has seen its stock on a steady, upward climb during the past three months. Shares in the company were valued at 36.72 at the close of business on 13 April, up 12.99 since the 27 January close at 23.73.
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