Thrifty Car Rental 2009 Annual Report Download - page 9

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decreases in demand. In 2009, the Company’s average monthly fleet size ranged from a low of
approximately 92,000 vehicles in the fourth quarter to a high of approximately 111,000 vehicles in the
third quarter.
The Company
The Company has two value rental car brands, Dollar and Thrifty, with a strategy to operate company-
owned stores in the top 75 airport markets and in key leisure destinations in the United States. In the
U.S., the Dollar and Thrifty brands are marketed separately, but operate under a single management
structure and share vehicles, back-office employees and facilities, where possible. The Company also
operates company-owned stores in five of the eight largest airport markets in Canada under DTG
Canada. In Canada, the company-owned stores are primarily co-branded.
The Company is focused on maximizing profitability of its company-owned stores and will close or
consolidate its stores that underperform. Beginning in late 2008 and continuing throughout 2009, based
on a review of the financial performance of its company-owned stores, the Company closed over 100
company-owned stores that were underperforming. While the Company has substantially completed its
review of company-owned stores and the closure of unprofitable stores, it will continue to monitor any
stores that do not meet minimum return on asset and profitability requirements for closure.
The Company also offers franchise opportunities in smaller markets in the U.S. and Canada and in all
other international markets so that franchisees can operate under the Dollar or Thrifty trademarks or dual
franchise and operate both brands in one market. Additionally, the Company may re-franchise company-
owned stores outside its strategic markets.
Summary Operating Data of the Company
2009 2008 2007
(in thousands)
Revenues:
Revenue from U.S. and
Canada company-owned
stores 1,491,599$ 1,637,119$ 1,694,064$
Revenue from franchisees
and other 54,650 60,874 66,727
Total revenues 1,546,249$ 1,697,993$ 1,760,791$
2009 2008 2007
Rental locations:
U.S. and Canada company-
owned stores 296 400 466
U.S. and Canada franchisee
locations 317 341 365
Franchisee agreements:
U.S. and Canada 181 222 234
International 135 139 117
Year Ended December 31,
As of December 31,
8