WESTON, FL--(Marketwired - Aug 18, 2016) - Monaker Group (OTCQB: MKGI), a technology-driven travel company focused on the alternative lodging rental (ALR) market, announced today that it has developed and launched a Premium Service for property owners offering participants a solution for time management and property booking optimization.
Monaker's Premium Service for property owners was developed on the basis that travel industry suppliers (airlines, hotels, car rental companies) have the tools to actively manage their rates on a minute-by-minute basis allowing them to react to competitive pricing, utilization and other market conditions in efforts to maximize revenues. Unfortunately, the homeowner often lacks the time and market knowledge to compete. The Premium Service is designed to help property owners address these inadequacies by providing reservation services, pricing optimization and global distribution of their property. Key elements include:
- Management and control of the homeowner's calendar resulting in real-time booking capability.
- Management of all guest communications from booking to checkout including booking inquiries, booking requests and emergencies around the clock, potentially saving many hours per week typically required managing property listings and bookings.
- Providing global distribution across major global booking platforms and markets published with many language conversions and offered in all major currencies worldwide.
- Management of property pricing with customized revenue & pricing management tools where property pricing is updated daily to reflect real-time market conditions.
Monaker Chairman and Chief Executive Officer, Bill Kerby, stated, "The Alternative Lodging ("AL") market is known to be one of the fastest growing segments in the Travel space. In fact, Research and Markets issued a Report earlier this year stating 'the global vacation rental market will reach $169.7 billion by 2019.' There are millions of property owners around the globe seeking a prudent and manageable option to post their vacation rental properties as Alternative Lodgings. We at Monaker have developed a solution that we believe will give the property owner an opportunity to increase their property booking revenue nearly 50%, while reducing the time required to manage the property by 10 hours per week. In addition, this inventory will give Monaker a boost in attracting more individual and possible unique properties to our already growing AL inventory.
"The Premium Service provides property owners seeking to rent their unit(s) expanded distribution across all major channels, language conversions for a worldwide reach, dynamic pricing and revenue management tools, and reservations services. Pilot marketing for the Premium Service clients suggests they could expect up to a 50% or greater increase in year over year booking revenue with a significant reduction in the time required to manage their property. When Premium Service customers provide the Company the physical address of the rental property, they will receive a timely custom analysis for the property, providing an estimate of expected growth in incremental year over year rental revenue by participating and listing in the Premium Service.
"Property owners already working with other major booking platforms that list or join the Monaker Premium Service should expect to receive a complete audit of the booking history applying the Monaker team's expertise in optimizing the property listing(s) for occupancy and booking revenue, while managing the listings and associated reservations. Monaker's technology, platform architecture and partnerships position the Premium Service listings on up to 50 major global booking platforms in multiple languages worldwide.
Monaker Chairman and CEO Bill Kerby concluded, "The Premium Service leverages our deep expertise in inventory acquisition, reservations services, technology and distribution. We see this as a win-win scenario, ultimately delivering more real-time bookable inventory to the market, and greater choice in inventory to travel consumers."
Monaker Group is a technology driven Travel Company with multiple divisions and brands, leveraging more than 60 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.