 | |
| Type | Subsidiary |
|---|---|
| Industry | Car rental |
| Founded | 1958 |
| Headquarters | , United States |
Number of locations | 1,061 locations (2022) [1] |
| Owner | The Hertz Corporation |
| Website | thrifty.com |
Thrifty Car Rental is an American car rental agency, headquartered in Estero, Florida, with offices in many countries around the world. Thrifty is owned by The Hertz Corporation, along with other agencies including Hertz Rent A Car and Dollar Rent A Car. Thrifty typically caters to budget-conscious leisure travelers.
Thrifty Car Rental was established in 1958. [2] [3] The company completed an initial public offering (IPO) of common stock in 1987. It would grow in size by purchasing Ohio-based Snappy Car Rental for US$40 million in May 1989. [4]
By the end of 1989, the company was acquired by the Chrysler Corporation for US$263 million (equivalent to $575 million in 2021) and merged into the company's Pentastar Transportation Group. [2] A few months later, Chrysler would also purchase Dollar Rent A Car. In September 1994, Chrysler would sell Snappy Car Rental to a group of investors. [5]
On December 23, 1997, Chrysler spun off its car rental operations into the Dollar Thrifty Automotive Group with an IPO, as part of an effort to reduce operating expenses at Chrysler. [6] [7] [8] By the 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. [9] [10]
Fleet sizes and locations in the United States:
The Hertz Corporation announced the company would purchase of Dollar Thrifty Automotive Group for US$2.3 billion (equivalent to $3 billion in 2021) on November 19, 2012. [15]
As a result of the impact of the COVID-19 pandemic on tourism, on April 30, 2020, Hertz announced that it has missed lease payments on its fleet and was seeking support of its lenders in an attempt to avoid bankruptcy. [16] On May 22, 2020, the company filed for Chapter 11 bankruptcy because it did not reach an agreement with top lenders. [17] [18] The company emerged from bankruptcy in early 2021. [19]
The Thrifty brand typically caters to budget-conscious leisure travelers renting from airports. [20] [21]
Thrifty Car Rental's free Blue Chip Express Rental Program was introduced to the U.S. and Canada in 2008. [22] It offers expedited pickup and returns processes, choosing vehicle type, insurance coverage, designated lines at the counter, and syncing airline rewards. [23] [22]
The Hertz Corporation is an American car rental company based in Estero, Florida. The company operates its namesake Hertz brand, along with the brands Dollar Rent A Car, Firefly Car Rental and Thrifty Car Rental.
National Car Rental is a private American rental car agency based in Clayton, Missouri, United States. National is owned by Enterprise Holdings, along with other agencies including Enterprise Rent-A-Car, and Alamo Rent a Car. National typically caters to business travelers through its Emerald Club loyalty program that allows frequent customers to pick their own vehicles without stopping to fill out forms or deal with customer representatives.
Dollar Rent A Car is an American car rental agency, headquartered in Estero, Florida, with offices in many countries around the world. Dollar is owned by The Hertz Corporation, along with other agencies including Hertz Rent A Car, Firefly Car Rental and Thrifty Car Rental. Dollar typically caters to budget-conscious leisure travelers.
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Cerberus Capital Management, L.P. is an American private equity firm, specializing in distressed investing. The firm is based in New York City, and run by Steve Feinberg, who co-founded Cerberus in 1992, with William L. Richter, who serves as a senior managing director. The firm has affiliate and advisory offices in the United States, Europe and Asia.
Damage waiver or, as it is often referred to, collision damage waiver (CDW) or loss damage waiver (LDW) is optional damage insurance coverage that is available to you when you rent a car.
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DriveTime Automotive Group Inc. is an American used car retailer and finance company. It is based in Tempe, Arizona, and sells and finances cars to customers around the nation. The company was formerly known as Ugly Duckling and was renamed DriveTime in 2002. It also spun off Carvana and GO Financial, SilverRock Group Inc, and Bridgecrest Acceptance Corporation. As of 2018, DriveTime had approximately 145 locations in the U.S. and 3,800 employees.
Dollar Thrifty Automotive Group is the former holding company of Thrifty Car Rental and Dollar Rent A Car. Dollar Thrifty Automotive began to operate as an independent car rental subsidiary of the Chrysler Corporation on November 4, 1997 while continuing to support its two brands, Dollar Rent A Car and Thrifty Car Rental. It was acquired by The Hertz Corporation for US$2.3 billion on November 19, 2012.
The American Car Rental Association (ACRA) is a formal trade organization based in Long Lake, New York, composed of rental car companies, that advocates and lobbies on behalf of the car rental industry with elected officials and consumer advocates at the federal, state and local levels of government.
Firefly Car Rental is a low cost American car rental brand owned by The Hertz Corporation. Hertz developed the new brand to replace Advantage Rent a Car which had to be sold following the acquisition of Dollar Thrifty Automotive Group.
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