Thrifty Car Rental 2011 Annual Report Download - page 11

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Dollar and Thrifty Brands
Dollar
Dollar’s main focus is serving the airport vehicle rental market, which is comprised of business and
leisure travelers. The majority of its locations are on or near airport facilities. Dollar operates
primarily through company-owned stores in the U.S. and Canada, and also licenses to independent
franchisees which operate as a part of the Dollar brand system. At December 31, 2011, Dollar had
81 company-owned stores at airports and 54 in local markets, and 64 franchised in-terminal airport
locations and 61 franchised local market operations in the U.S. and Canada. In Canada, Dollar
operates company-owned stores in five of the eight largest airport markets.
As of December 31, 2011, Dollar’s vehicle rental system included 260 locations in the U.S. and
Canada, consisting of 135 company-owned stores and 125 franchisee locations. Dollar’s total rental
revenue generated by company-owned stores was $892 million for the year ended December 31,
2011.
Thrifty
Thrifty serves both the airport and local markets through company-owned stores and its franchisees
which derive approximately 90% of their combined rental revenues from the airport market and
approximately 10% from the local market. At December 31, 2011, Thrifty had 81 company-owned
stores at airports and 64 in local markets, and 75 franchised in-terminal airport locations and 106
franchised local market operations in the U.S. and Canada.
At December 31, 2011, Thrifty’s vehicle rental system included 326 rental locations in the U.S. and
Canada, consisting of 145 company-owned stores and 181 franchisee locations. Thrifty’s total rental
revenue generated by company-owned stores was $592 million for the year ended December 31,
2011.
Corporate Operations
United States
The Company’s operating model for U.S. Dollar and Thrifty company-owned stores includes
generally maintaining separate airport counters, reservations, marketing and all other customer
contact activities, while using a single management team for both brands. In addition, this operating
model includes sharing vehicles, bussing operations, back-office employees and service facilities,
where possible.
As of December 31, 2011, the Company operates each of the Dollar brand in 58 and the Thrifty
brand in 59 of the top 75 airport markets in the U.S. and operates both brands in 53 of those top 75
airport markets.
Canada
The Company operates in Canada through DTG Canada. The Company currently operates
company-owned stores in five of the eight largest airport markets in Canada: Calgary, Toronto,
Montreal, Halifax and Vancouver. The majority of the markets are operated under the Company’s
co-branding strategy in Canada where both the Dollar and Thrifty brands are represented at one
shared location.
Tour Rentals
Vehicle rentals by customers of foreign and U.S. tour operators generated approximately $262
million or 17.7% of the Company’s rental revenues for the year ended December 31, 2011. These
rentals are usually part of tour packages that can also include air travel and hotel accommodations.
No single operator account generated in excess of 3% of the Company’s 2011 rental revenues.
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