WESTON, FL--(Marketwired - Jul 5, 2017) - Monaker Group (
NextTrip is powered by the MBE, a new cloud-based technology platform that delivers ALR reservations that can be instantly confirmed. MBE delivers Monaker's global ALR inventory via a flexible application program interface (API), which also supports the distribution of Monaker's ALR products to B2B travel industry partners.
The newly available Alternative Lodging Rental (ALR) units are located primarily in Europe, which represents Monaker's largest ALR market. They also include a number of new properties across North America and the first properties in Cuba. The type of new ALR properties are consistent with the existing inventory of private vacation homes, villas, chalets, apartments, condos and castles. Monaker continues to expand its ALR inventory as it works to complete the integrations of an additional 800,000 properties secured under contract.
"The addition of these new properties demonstrates that our MBE represents one of the most diverse and accessible ALR instant booking platforms for the travel industry with inventory of approximately 1.4 million unique units," said Monaker CEO Bill Kerby. "Since the introduction of our proprietary booking engine last year, we've received growing interest by both product suppliers and potential distribution partners. This interest has been buoyed by strengthening consumer demand for instantly-bookable ALRs."
"It's important to note that not just a portion, but all of our properties are instantly bookable," added Kerby. "Travelers today expect to book flights, car rentals and tour packages with an easy 'point and click,' and without any hassles or delays. Our MBE technology supports a special relationship to our properties, providing travelers complete assurance that their reservation has been set at the moment of click -- no more waiting hours or days for a response from the property owner."
Monaker has also completed integrations with certain key supply-side channel partners, which opens access to additional instantly-bookable resort residences. Resort residences typically offer comfortable residential style 1-4 bedroom units, with kitchens, living rooms, home furnishings and full access to resort amenities. These additional properties will become available later this year.
Given the long-standing industry need for instant booking ALR reservations, several leading travel service wholesalers, retailers and travel agency groups are currently working to integrate our MBE technology with their vacation and travel package distribution channels.
"We continue to work towards completing our distribution side integration with a major industry partner," added Kerby. "We are also adding key enhancements to our NextTrip site, including an advanced small business travel platform, a travel agent section, and specialized artificial intelligence that will enable easier planning for business, groups and family travel.
Monaker is looking to take advantage of the growing demand for alternative lodging and the strong growth in digital travel sales. The ALR industry is expected to grow at more than 7% CAGR 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 will climb at a 9.7% CAGR to top $817 billion by 2020, says eMarketer .
The latest releases of the NextTrip mobile app for iOS and Android are available for download today.
About Monaker
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 1.5 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 ALR. Monaker's NextTrip.com B2C website, powered by the MBE, is the first to offer significant instantly-bookable ALR products along with mainstream travel products and services, all on a single site. NextTrip also features rich content, imagery and high-quality video to enhance a traveler's booking experience and assist in the search, decision and buying process for both individuals and groups. For more information, visit www.monakergroup.com or www.nexttrip.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 Group. 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, or the expectations of future growth may not be realized. These forward-looking statements are made only as of the date hereof, and Monaker Group 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 Group'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 .
Company Contact Richard Marshall Director of Corporate Development Monaker Group Tel: (954) 888-9779 rmarshall@monakergroup.com Investor Relations Contact Ronald Both or Grant Stude CMA Tel (949) 432-7557 rb@cma.bz
