|
Reports: | Overview: Rentals/Revenue: Despite the fact that transactions were down 5% in the first quarter of 2002 vs. 2001, revenue was up 5%. A main reason for the revenue increase can be attributed to higher government rates as a byproduct of tightening fleets. It should be noted that according to the Society of Government Travel Planners, the 1st quarter for U.S. Government travel was down compared to last year by 15 to 20 percent. Therefore, Thrifty actually had a very good 1st quarter, which can be attributed to a strong travel agent promotion conducted with SatoTravel, Carlson and Omega. Thrifty market share and revenue increased with Sato and Carlson, which are highlighted in their individual sections. Thrifty Locations: Obviously, not having a San Diego location continues to be a major problem. In addition, even though the DC transition went extremely smooth, it was apparent there would be some negative effects on government business within Thrifty’s largest government destination. Finally, Thrifty Team Owners are expressing a new desire to expand their knowledge and reach of government pricing. Ways are now being explored in which to utilize technology to meet this important need. Competition: The competition was somewhat less aggressive as 2002 progressed. Tightening of fleets certainly made government rates go up from where they were in 4th quarter of 2002. Travel Agency Accounts: With the announcements of commission reductions, the preferred relationships within the travel agency community have become more important. Both Thrifty and the larger travel agencies within government know how important it will be to maintain these relationships. Thrifty continues to maintain a strong relationship with SatoTravel, Carlson and Omega. The latest promotion we conducted (Thrifty Stimulus Package) with these agencies were not only timely, but were a huge success. |