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
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