WESTON, FL–(Marketwired – Oct 10, 2017) – Monaker Group (OTCQB: MKGI), a travel industry technology leader, has submitted its formal application to list the company’s common stock on the NASDAQ Capital Market.
“We believe up-listing to NASDAQ should increase awareness of Monaker in the financial community,” said the company’s CEO, William Kerby. “The benefits provided by the NASDAQ listing would be timely as we expect the first B2B deployment of our alternative lodging rentals (“ALR”) platform this fall, launching with several of our travel distributors.”
The Monaker Booking Engine, or MBE, is a cloud-based technology platform that delivers the travel industry’s first customizable solution of over 1 million instantly-bookable homes, apartments, villas, castles and resort residences located in prime locations around the world. The MBE application programming interface (API) creates a B2B solution for travel companies to access Monaker’s properties for display and instantaneous booking alongside their website offerings for air travel, car rentals and tour packages.
The company’s large and growing global ALR inventory can provide the thousands of travel companies around the world an easy, commissionable option for selling vacation property rentals.
Monaker expects to benefit from the growing demand for ALR and the notable growth in digital travel sales. The global ALR industry is expected to grow at more than a 7% compound annual growth rate to $194 billion in 2021, according to Technavio, making it one of the fastest growing sectors of 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, says eMarketer.
There can be no assurance that NASDAQ will approve the company’s initial listing application or that the company’s common stock will be approved for listing on the NASDAQ Capital Market.
About the NASDAQ
The NASDAQ is global electronic marketplace for buying and selling securities. It was created by the National Association of Securities Dealers (NASD) to enable investors to trade securities on a computerized, speedy and transparent system. For more about the NASDAQ, go to business.nasdaq.com.
About Monaker Group
Monaker Group is a technology-driven travel company focused on delivering innovation to alternative lodging rentals (ALR) market. The Monaker Booking Engine (MBE) delivers instant booking of more than 1.4 million 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 information, visit www.monakergroup.com.
Important Cautions Regarding Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties concerning the plans and expectations of Monaker. These statements are only predictions and actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, some of which are out of our control. The potential risks and uncertainties include, among others, the expectations of future growth may not be realized, and the company may not meet applicable NASDAQ Capital Market requirements necessary for listing and/or NASDAQ may not approve the company’s listing application. These forward-looking statements are made only as of the date hereof, and Monaker undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. 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, 2017, which has been filed with the SEC and is available at www.sec.gov.
Director of Corporate Development
Tel: (954) 888-9779
Investor Relations Contact
Ronald Both or Grant Stude, CMA
Tel (949) 432-7557