WESTON, FL--(Marketwired - Jun 23, 2016) - Monaker Group (OTCQB: MKGI), a technology driven travel company focused on the alternative lodging rental ("ALR") market, today announced the filing of its Form 10K for the year-ended February 29, 2016 and representing the business evolution of Monaker Group ("Monaker" or the "Company"). The 10K can be accessed and viewed on the Company's website (www.monakergroup.com) under "Financial Information," as well as on the SEC's website (www.sec.gov).
Monaker began strategically positioning itself to accelerate travel sales in late 2015 through Maupintour.com websites, which focuses on luxury tours sold individually and as components of dynamically assembled packaged travel vacations and trips. Monaker's Maupintour subsidiary has a 65-year history of arranging activities and tours for a growing base of travelers. The division revenue increased by 66% last year and continues to build strength, with first months of 2016 having already surpassed its performance for the entire year of 2015.
Monaker's balance sheet has immensely improved in 2016 with its assets more than doubling while its current liabilities reduced from $12.1 million as of last year to a very manageable balance of $3.03 million.
Since January 2016, Monaker has focused resources on the build out of product, partnerships and technology platforms to position its ALR listings and ancillary travel products as its core business. "With the rapid increase in ALR inventory and the development of the next generation NextTrip.com platform, Monaker is in a stronger position to effectively compete and excel in the vast and lucrative alternative lodging market," stated Bill Kerby, Chairman and CEO of Monaker.
In February 2016, Monaker introduced a beta of its new travel platform under the NextTrip brand. During the last 10 weeks, Monaker's management focused its resources towards bringing to market the next generation of its NextTrip platform, which will launch in the near term. The launch will bring to market the significant integration progress of the over 1.1 million ALR listings under contract and thousands of unused time share resort residence listings available for nightly or extended stay rentals available in real-time booking. ALRs include whole unit vacation homes, timeshare resort units, homes, condominiums, villas and cabins available on a nightly, weekly or monthly basis.
The site will boast Monaker's state of the art booking engine for ALR as well as improved features, functionality and advanced technology that combines proprietary and licensed platforms. Consumers will be able to comprehensively search vacation travel destinations for our lodging products as well as air, car, hotel, tour activities, restaurants and other travel details supported by maps, rich content, imagery, video and collaboration/social sharing tools. This platform is designed to fully maximize the consumer's experience and assist them in the decision and purchasing process.
Additionally, the Monaker Booking Engine also acts as the bridge needed to begin to supply our ALR products to channel partners for broad distribution. With each partner's integration, the company should see accelerated revenues via expanded distribution. Supplemented by a resourceful and seasoned team of travel and technology professionals, the platform is expected to handle significant volumes from partners and consumers. This next generation NextTrip platform will serve three major constituents: vacationers and travelers, property owners and managers, and other distributors.
Monaker Group is a technology driven Travel Company with multiple divisions and brands, leveraging 65 years of operation in leisure travel. Monaker's flagship is NextTrip.com, the industry's first real time booking engine featuring alternative lodging (vacation home rentals, resort residences and unused timeshares) as well as a vast array of airlines, hotels, cruises, rental cars, tours and concierge services all combined in one platform to give customers the power of choice when booking their vacations. With key partnerships and established travel brands used as cornerstones, the Company's mission is to continue to expand offerings to become the "one stop" vacation center. Headquartered in South Florida, the Company employs a dedicated team of travel and technology professionals. For more information visit the company's website at www.monakergroup.com
Safe Harbor Statement:
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 29, 2016 which has been filed with the SEC and is available at the SEC's website at www.sec.gov.