Riyadh, Kingdom of Saudi Arabia – 10 July 2011 – Dollar Rent a Car, a franchisee of the Dollar Thrifty Automotive Group, Inc (NYSE: DTG), and one of the Middle East’s fastest growing car rental companies, today announced their expansion into the Kingdom of Saudi Arabia in a franchisee agreement with Al Wefaq Rent A Car. The office in Al Rawabi, Riyadh, will serve as the Dollar headquarters for car rental services in Riyadh, Jeddah, Al Khobar and Jubail.
Dollar’s office in Saudi Arabia will be managed by Nasser AlQahtani who will act as Chairman and Chief Executive Officer of the company. Dollar will target corporate customers in the Kingdom as well as cater to holiday makers and short-term business tourists. “Saudi Arabia is a hub for regional and international investment at the moment,” said Nasser Al AlQahtani, Chairman and CEO, Dollar Rent A Car. “Tourism is increasing at a steady pace. We have an influx of business tourists with the opening of new offices for international corporations and local businesses.”
The Leisure business will be driven by residents who frequently opt to rent cars for drives to Bahrain and the United Arab Emirates. “Saudi has also been a hub for religious retreats, and we are prepared to serve the tourist this Ramadan season,” continued Mr. AlQahtani.
Dollar Car Rental expects a 50-50 split between leisure and business travel in the Kingdom over the next few years. The World Travel and Tourism Council reports that Leisure travel spending (inbound and domestic) is expected to generate 54.7 per cent of direct Travel & Tourism GDP in 2011 compared with 45.3 per cent for business travel spending.
“The inaugural Dollar Car Rental office in Saudi Arabia is a major success for the Dollar Thrifty Automotive Group, as we have been eying penetration into the country,” said Sam Eltibi, Executive Director, Dollar Thrifty Automotive Group MENA & Asia Pacific. “We leave the valuable business in the very capable hands of Mr. AlQahtani, who has been in the industry for 11 years. His enthusiasm and activeness in the Kingdom’s tourism industry is real asset to drive Dollar’s business in Saudi Arabia and Bahrain.”
The fully operational office in Saudi Arabia is equipped with the market’s most sought after fleet, ranging from 4x4s for regional road travelers, to small and medium size cars for holiday visitors. The company will be using Al Wefaq’s workshops for car maintenance and service ensuring customers that their rental experience is up to the standards of Dollar Rent a Car.
Dollar Rent A Car opened its Middle East office in 2004 and operates in the United Arab Emirates, Oman, Jordan, Kuwait, Turkey and now Saudi Arabia.
