Monaker Group, Inc. (MKGI) Set to Expand Industry
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Posted On: 08/24/2016 5:11:50 PM
Monaker Group, Inc. (MKGI) Set to Expand Industry Partnerships with Launch of Monaker Booking Engine
Before the opening bell, Monaker Group, Inc. (OTCQB: MKGI) announced completion of the design, architecture and buildout of its Application Program Interface (“API”) and the corresponding launch of its Monaker Booking Engine (“MBE”). This announcement marks a key milestone in the company’s efforts to develop a sustainable foothold in the rapidly growing alternative lodging space, as the completed API and MBE will allow Monaker to work toward partnering with large, established online travel agencies, tour operators, airlines and cruise originators to offer its sizable inventory in a real-time booking format. This real-time booking format is key to the company’s future growth, as the vast majority of alternative lodging firms still rely on the less convenient request/response approach to booking, which slows down the rental process.
“The completion of the MBE and API is an important milestone for the Company and our large inventory can now be distributed to our interested partners in the Alternative Lodging industry,” Bill Kerby, chairman and chief executive officer of Monaker, stated in this morning’s news release. “I’m very pleased with the functionality of the MBE and initial discussions with potential partners has suggested their desire to find a true ‘Plug and Play’ solution. We believe we can now uniquely provide this for the growing travel space.”
With the launch of the MBE, Monaker will look to add several large travel industry partners in the coming months. These partnerships will play a key role in the company’s efforts to expand distribution for its growing inventory of alternative lodging rental units. In a shareholder update issued in early June, Monaker reported an impressive 1.1 million alternative lodging rental units under contract and outlined plans to add more than 200,000 additional timeshare or resort units to its NextTrip Resorts platform by the end of this year.
Monaker has remained committed to developing a better approach to the alternative lodging space. Just last week, the company announced the launch of a premium service for its property owners. Leaning on its deep expertise in inventory acquisition, reservations services, technology and distribution, Monaker suggests that property owners who take advantage of its premium service could see an increase of nearly 50 percent in booking revenues while reducing the time required to manage their properties by 10 hours per week. Additionally, leveraging the company’s proprietary platform architecture and partnerships, premium service listings are positioned on up to 50 major global booking platforms in multiple languages worldwide.
With the completion of its API and MBE and the recent launch of its premium service for property owners, Monaker is differentiating itself in the global vacation rental market, which is expected to reach $169.7 billion by 2019, according to Research and Markets. Kerby reiterated management’s optimism regarding the company’s short-term growth prospects to close out this morning’s news release.
“Our goal of becoming one of the larger players in the Alternative Lodging Rental industry can now occur rapidly and we should be adding several large travel industry partners in the near future,” he concluded.
For more information, visit www.MonakerGroup.com
Please read full disclaimers at http://disclaimer.missionir.com
Before the opening bell, Monaker Group, Inc. (OTCQB: MKGI) announced completion of the design, architecture and buildout of its Application Program Interface (“API”) and the corresponding launch of its Monaker Booking Engine (“MBE”). This announcement marks a key milestone in the company’s efforts to develop a sustainable foothold in the rapidly growing alternative lodging space, as the completed API and MBE will allow Monaker to work toward partnering with large, established online travel agencies, tour operators, airlines and cruise originators to offer its sizable inventory in a real-time booking format. This real-time booking format is key to the company’s future growth, as the vast majority of alternative lodging firms still rely on the less convenient request/response approach to booking, which slows down the rental process.
“The completion of the MBE and API is an important milestone for the Company and our large inventory can now be distributed to our interested partners in the Alternative Lodging industry,” Bill Kerby, chairman and chief executive officer of Monaker, stated in this morning’s news release. “I’m very pleased with the functionality of the MBE and initial discussions with potential partners has suggested their desire to find a true ‘Plug and Play’ solution. We believe we can now uniquely provide this for the growing travel space.”
With the launch of the MBE, Monaker will look to add several large travel industry partners in the coming months. These partnerships will play a key role in the company’s efforts to expand distribution for its growing inventory of alternative lodging rental units. In a shareholder update issued in early June, Monaker reported an impressive 1.1 million alternative lodging rental units under contract and outlined plans to add more than 200,000 additional timeshare or resort units to its NextTrip Resorts platform by the end of this year.
Monaker has remained committed to developing a better approach to the alternative lodging space. Just last week, the company announced the launch of a premium service for its property owners. Leaning on its deep expertise in inventory acquisition, reservations services, technology and distribution, Monaker suggests that property owners who take advantage of its premium service could see an increase of nearly 50 percent in booking revenues while reducing the time required to manage their properties by 10 hours per week. Additionally, leveraging the company’s proprietary platform architecture and partnerships, premium service listings are positioned on up to 50 major global booking platforms in multiple languages worldwide.
With the completion of its API and MBE and the recent launch of its premium service for property owners, Monaker is differentiating itself in the global vacation rental market, which is expected to reach $169.7 billion by 2019, according to Research and Markets. Kerby reiterated management’s optimism regarding the company’s short-term growth prospects to close out this morning’s news release.
“Our goal of becoming one of the larger players in the Alternative Lodging Rental industry can now occur rapidly and we should be adding several large travel industry partners in the near future,” he concluded.
For more information, visit www.MonakerGroup.com
Please read full disclaimers at http://disclaimer.missionir.com
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