Dollar Thrifty Automotive Group Inc. said Tuesday that first-quarter rental revenue is expected to fall 8 percent to 9 percent compared with the same period last year.
The company, which runs Dollar Rent A Car and Thrifty Car Rental businesses, said prices that were 4 percent higher did not fully offset a 12 percent drop in transaction days.
The company also said that Easter - traditionally a busy travel weekend - fell in the second quarter this year.
But Dollar Thrifty said it expects first-quarter vehicle rental revenue to rise about 2 percent to 3 percent compared with the fourth quarter of 2008 thanks to a 10 percent increase in the per-day charge for vehicles, which more than offset a 7 percent decline in transaction days.
The company plans to report first-quarter results on May 6.
Dollar Thrifty shares fell 5 cents, or 2.7 percent, to close at $1.80.
