Earlier today, Monaker Group,
Inc. (OTCQB: MKGI) announced the filing of its Form 10K for the fiscal year
ended February 29, 2016. In addition to reporting a 66.3 percent year-over-year
increase in travel and commission revenue, the form highlighted the ongoing
business evolution of Monaker Group. In late 2015, the company implemented a
strategy designed to accelerate its travel sales through Maupintour, and the
early results from these efforts paint a promising picture for shareholders.
Within the first months of 2016, Monaker surpassed its revenues for the
entirety of 2015, and a dramatically strengthened balance sheet, which includes
current liabilities of just $3.03 million (as compared to the $12.1 million
reported the previous year), positions the company to build on this start
throughout the balance of this year.
To view the company’s Form
10K, visit http://dtn.fm/A4uby
In addition to its growth
through its Maupintour subsidiary, Monaker has made considerable progress in
recent months toward the development of its next generation NextTrip travel
platform. In February, the company introduced a beta of the new platform, and
its management team has spent the last 10 weeks preparing the site for full
commercial launch. Notably, Monaker has already secured an alternative lodging
rental (ALR) inventory in excess of 1.1 million listings for the NextTrip
platform, putting it on pace with established industry leaders such as
HomeAway, which was recently acquired by Expedia (NASDAQ: EXPE), in terms of
inventory.
“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,” Bill Kerby, chairman and chief
executive officer of Monaker, stated in today’s news release.
NextTrip will include
integration of Monaker’s state-of-the-art booking engine, allowing consumers to
comprehensively search vacation destinations for lodging products, as well as
supplementary products such as flights, rental cars and tour activities.
According to today’s update, the company’s innovative platform can also be
integrated with channel partners in order to broaden distribution and
accelerate financial growth.
Look for Monaker to build on
its strong revenue growth in 2015 through the impending launch of its NextTrip
booking platform. With roughly 53 percent of all travel now being booked
through online travel agencies, according to a report by the University of Iowa
(http://dtn.fm/4lgiD), and a strong U.S. dollar spurring increased overseas
tourism, Monaker’s latest foray into the travel industry could be set for a
favorable launch in the near term.
For more information, visit
www.monakergroup.com
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