WESTON, FL, July 09, 2018 (GLOBE NEWSWIRE) -- Monaker Group (NASDAQ: MKGI), a travel and technology company focused on the alternative lodging rental (ALR) market, today said it will be ready to release its next generation of the Monaker Booking Engine (MBE) by July 13th, 2018 to contracted travel distributors. This is a major milestone for the Company as this advanced Application Protocol Interface (API) and MBE will provide to distributors’ existing reservation platforms access to Monaker’s global ALR inventory with the added benefits of all properties boasting dynamic pricing and instant booking capabilities.
“The completion of our next-generation MBE and API represents a major advancement for Monaker as well as for our travel distribution partners,” said Monaker CEO Bill Kerby. “In addition to opening up for us a new B2B revenue stream from ALR transactions, it provides an enterprise-level platform for our partners to access our vast inventory of properties. Based upon initial contracts with travel consolidators and specialists, our ALR inventory will soon be accessible to hundreds of travel companies in the tour, cruise, hotel and airline sectors as well as over one hundred thousand travel agents in North America and Europe. We remain focused on bringing on new contracted property managers who will continue to help us grow the number of instantly-bookable properties on the platform.”
During the development process, Monaker collaborated closely with multiple travel distributors in various segments of the industry, sharing the working architecture of the new API to ensure capability. Their feedback led to the creation of elements that will now support faster and more efficient integrations. The API is universal in design, allowing compatibility with all booking systems. It is also more flexible, with the ability to activate or deactivate certain features to best match the needs of individual travel distributors.
Monaker’s proprietary ALR booking engine creates a B2B solution for travel companies wanting to access vacation rental properties for display and instantaneous booking alongside their website offerings for air travel, car rentals and tour packages. It was redesigned from the ground up to meet the demands of Monaker’s contracted travel distributors, including Consolidators, Hotel Specialists, Travel Agency Groups and Tour Companies, for support of Dynamic Pricing. This functionality enables booking agents to have accurate pricing for the myriad of variables that are necessary to arrive at a price for booking an ALR. The API also incorporates more scalable architecture that is deployed in a cloud environment and a booking engine (MBE) that is based on Open Travel standards. The MBE and API present a solution that is more efficient and with accurate information through interfaces with supply partners.
Monaker expects to benefit from the growing demand for ALR and the growth in digital travel sales. 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, says eMarketer .
About Monaker Group
Monaker Group is a technology-driven travel company focused on delivering innovation to the alternative lodging rental (ALR) market. The Monaker Booking Engine (MBE) contracted 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 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 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. 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, 2018, which has been filed with the SEC and is available at www.sec.gov .
Company Contact:
Monaker Group, Inc.
Richard Marshall - Director of Corporate Development
Tel (954) 888-9779
Email: rmarshall@monakergroup.com
MKGI Investor Relations & Media Contacts:
CMA
Ronald Both or Grant Stude
Tel (949) 432-7557
Email: MKGI@cma.team
and
Chesapeake Group
Tel (410) 825-3930
Email: info@chesapeakegp.com
