Before the opening
bell, Monaker Group, Inc. (OTCQB: MKGI) announced that its proprietary
timeshare booking engine has now been integrated into its flagship NextTrip.com
booking platform as NextTrip Resorts. Following this update, timeshare owners
and property managers are now able to post their unused resort properties into
NextTrip’s vacation rental inventory, allowing consumers to view and book the
properties in real time. To date, the timeshare and fractional ownership market
has remained largely untapped by leading online travel agencies, creating an
immense opportunity for Monaker Group to capture market share. In total, the
company estimates total timeshare inventory to include roughly 19 million rooms
worldwide, with about 25 percent of inventory currently going unused.
“Having spent a
number of years in the hospitality, shared ownership and mixed use development
industries, I’m truly excited to be a part of this technology and platform,”
Jim Marmorstone, president of Monaker, stated in this morning’s news release.
“Property developers, owners and managers should benefit greatly from our
rental management solutions and distribution. NextTrip travel customers and
platform partners will benefit from additional property inventory which should
grow substantially from here.”
Following the
official launch of NextTrip Resorts, the company plans to aggressively pursue
timeshare resort owners, developers and property management firms in order to
gain access to large-scale rental inventory for vacationers. NextTrip has
already secured initial commitments and property offerings in a number of
high-demand vacation markets – including Mexican beach destinations, such as
Cancun and the Riviera Maya, and European hotspots, such as Greece. In the
coming weeks, Monaker expects to obtain additional commitments from independent
operators with both national and international networks of resorts.
Late last month,
Monaker gave prospective shareholders a preview of the scale of its NextTrip
platform when it announced the addition of over 250,000 units of alternative
lodging inventory. Additionally, the company reported that it has approximately
one million alternative lodging units under contract, ready to be uploaded onto
the NextTrip platform following certification. This expansive pool of inventory
positions Monaker as one of the largest players in the rapidly growing
alternative lodging industry, and the company’s real-time booking technology is
expected to open the doors to a wider audience of customers who prefer instant
bookings as opposed to waiting for manual confirmation from property owners.
“This technology and
integration bolsters Monaker’s growing alternative lodging offerings to now
include unoccupied timeshares, fractional share properties and mixed use
developments with 4 or 5 star hotels and resorts in highly sought vacation
destinations,” Bill Kerby, chief executive officer of Monaker, stated in this
morning’s news release. “Additionally, timeshare owners rank among the highest
in individual vacation spends and form a much sought after demographic as
potential NextTrip consumers for their travel.”
For more
information, visit www.monakergroup.com
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