- Monaker Booking Engine (MBE) receiving booking confirmations on its alternative lodging properties from the company’s first two travel distribution partners.
- Seven more contracted distributors completing the MBE integration/certification process and expected to go live in November.
- A total of 15 contracted integrations/certifications expected to be completed by year-end; would result in multiple travel partners and 300,000+ travel agents having access to instant booking of MKGI’s inventory of more than one million contracted properties ahead of the 2019 peak booking season.
- Company to attend World Travel Market, the premier meeting place for senior travel industry professionals, in early November, and meet with additional worldwide travel distributors interested in MBE adoption.
WESTON, FL – October 31, 2018 – Monaker Group, Inc. (NASDAQ: MKGI), a technology leader in the alternative lodging/vacation rental (ALR/VR) markets, today confirmed that its first two travel distribution partners, (see company news release September 19, 2018), have begun to search and book ALR/VR properties on the Monaker Booking Engine (MBE). Additionally, seven more contracted distributors completing the MBE integration/certification process are expected to go live in November.
“Based upon all scheduled MBE integrations,” said Monaker vice chairman & CEO Bill Kerby, “we expect our initial group of 15 distribution partners to be live by year-end and capable of pulling from Monaker’s contracted inventory of more than one million properties. Our partners include travel aggregators, consolidators, tour companies, airlines, online travel agencies (OTAs) and more than 300,000 travel agents. Located primarily in North America, Europe and the Middle East, these first 15 travel partners are estimated to generate more than $10 billion in annual hotel/lodging bookings worldwide; and now, across multiple platforms, they can enhance their service offering to clients through instant access and booking of Monaker’s ALR/VR properties.”
Monaker’s highly flexible MBE creates a unique B2B solution for any travel company wanting to access alternative lodging and vacation rental properties for display and instantaneous booking alongside their online offerings for air travel, car rentals and tour packages.
Mr. Kerby continued, “We are seeing a steady increase in system views and searches of MKGI’s inventory – as high as 7,000 views per day – with our first two live partners. Because we expect similar interest and activity on the platforms of the 13 remaining partners, we are confident it will lead to strong booking transactions as we enter the start of the peak booking season, which runs from January through April.”
Monaker also announced it will attend in early November the World Travel Market (WTM) London, a leading global event for the travel industry. With over 50,000 visitors in attendance at this year’s event, Monaker has already scheduled meetings with potential business partners and multiple travel distributors interested in discussing MBE adoption.
Mr. Kerby noted that the global ALR industry is expected to grow at a 7% compound annual growth rate to $194 billion in 2021, according to Technavio, making it one of the fastest-growing sectors in the travel industry. Meanwhile, worldwide digital travel sales are anticipated to climb at a 9.7% compounded annual growth rate to top $817 billion by 2020, reports eMarketer. “With our 15 contracted and live travel partners, Monaker is now positioned to benefit greatly from both the growing demand for ALR/VR properties and the rapid growth in digital travel sales.”
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 one 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.
The company’s NextTrip.BIZ website offers customizable business travel booking and management solution for small and medium-sized businesses. Business owners and employees can search for and securely access exclusive discounted pricing across air, hotel/ALR, car, and other ancillary travel services. NextTrip.BIZ can be configured to a company’s particular travel policies, with bookings recorded for easy corporate expense tracking and reporting. Visit www.NextTrip.BIZ to sign up for a free trial.
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, 2018 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.