WESTON, FL – October 22, 2019 – Monaker Group, Inc. (NASDAQ: MKGI), a technology leader in the travel and vacation rental markets, today reported the completion of an integration and the launch of a partnership with RateGain Technologies, the market leader in hospitality and travel technology solutions, for Switch Connectivity and Content. The Switch Connectivity will allow Monaker’s 2.6 million plus vacation rental properties to access 1,500+ demand partners, thereby, helping end customers with the appropriate vacation rentals that they are looking for.
RateGain, via its distribution solutions – DHISCO, RezGain and Smart Distribution, provides access to the largest distribution ecosystem in a frictionless manner. DHISCO Connectivity provides a comprehensive set of flexible connectivity options for any circumstance across push and pull models for shopping and booking. It yields very high booking accuracy, supports real time modifications and cancellations, and immediate confirmations of the reservations from the hotel’s CRS that ultimately ensures a positive customer experience. DHISCO Content, on the other hand, is a powerful content database with flexible APIs that delivers unified content experience across each touch point through content curation, syndication and globalization. It supports property level content synchronization and automated property build to onboard and synchronize content.
“We are extremely pleased that RateGain will now increase its participation in the rapidly growing alternative lodging space with Monaker’s sizeable vacation rental inventory,” said Mr. Apurva Chamaria, Chief Revenue Officer, RateGain. “RateGain’s distribution solution will allow Monaker Group to access 1,500+ demand partners. DHISCO Connectivity has enjoyed ~100% availability, achieved reliability and speed measures despite 130% increase in transaction volume, and realized transaction times of <50 milliseconds in its environment. With DHISCO content, within just a couple of months, Monaker Group has already on boarded 100,000+ properties with images and content in 4 different languages namely Spanish, French, German and Italian apart from English. With DHISCO Connectivity and Content, Monaker Group will achieve stability, reliability, agility and enhanced customer experience.”
Commenting on today’s news and the RateGain partnership, Bill Kerby, Chief Executive Officer, Monaker Group said, “We are extremely pleased to launch this partnership and see it as a strategic channel with DHISCO’s global lodging presence. It gives Monaker the opportunity to access major lodging distributors using the DHISCO platform that otherwise might not be as accessible to us. DHISCO has a strong reputation of meeting agreed commitments to partners, which we value very highly when doing partnerships.”
The Monaker Booking Engine (MBE) Application Program Interface (API) provides Monaker’s integrated travel distributors and their downstream partners with the ability to book commissionable vacation rentals within their existing reservation systems from Monaker’s global inventory of vacation rental homes, villas, chalets, apartments, condos, resort residences, and even castles. Because the MBE inventory bookings are instantly confirmed, rather than waiting hours or even days for property owners to respond, the vacation rental can also be seamlessly booked alongside air, car and other travel reservations as a complete package.
RateGain is the #1 provider of SaaS products, which help travel, and hospitality companies make more revenue every day. RateGain offers products, which help with rate intelligence, cognitive revenue management, smart e-distribution, and brand engagement. RateGain is proud to support 125,000+ hotel properties globally influencing 13 Billion $ revenue by providing 240 billion rate and availability updates & powering over 30 Million bookings. RateGain is trusted by 25 out of the top 30 OTAs, tour operators and wholesalers, 23 out of the top 30 hotel chains, 7 out of the top 10 car rental companies, top 5 cruise lines, and many leading airlines worldwide. In 2018, RateGain acquired DHISCO, which made it the only company in the world to offer end-to-end frictionless distribution. In June 2019, RateGain acquired award-winning BCV to offer guest experience cloud to maximize guest lifetime value for hospitality chains. For more information, visit www.rategain.com
About Monaker Group
Monaker Group, Inc., is a technology-driven travel company focused on delivering innovation to the alternative lodging rental (ALR) market. The Monaker Booking Engine (MBE) provides access to more than 2.6 million instantly bookable vacation rental homes, villas, chalets, apartments, condos, resort residences, and castles. MBE offers travel distributors and agencies an industry first: a customizable, instant-booking platform for alternative lodging. For more about Monaker Group, visit www.monakergroup.com.
Important Cautions Regarding Forward Looking Statements
This release includes ”forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations, opinions, belief or forecasts of future events and performance. A statement identified by the use of forward-looking words including ”will,” ”may,” ”expects,” ”projects,” ”anticipates,” ”plans,” ”believes,” ”estimate,” ”should,” and certain of the other foregoing statements may be deemed forward-looking statements. Although Monaker believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. All forward-looking statements are expressly qualified in their entirety by the “Risk Factors” and other cautionary statements included in Monaker’s annual, quarterly and special reports, proxy statements and other public filings with the Securities and Exchange Commission (“SEC”), including, but not limited to, the company’s Annual Report on Form 10-K for the period ended February 28, 2019 and the company’s subsequently filed Quarterly Reports on Form 10-Q, which have been filed with the SEC and are available at www.sec.gov. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the company.