Earlier
today, Monaker Group, Inc. (OTCQB: MKGI) announced the launch of its new
Premium Service for owners of alternative lodging listings, which is designed
to even the playing field between homeowners and travel industry suppliers.
According to the news release, major travel industry suppliers – including
airlines, hotels and car rental companies – employ cutting-edge tools that
allow them to actively manage their rates on a minute-by-minute basis in order
to react to competitive pricing, utilization and other market conditions. As a
result, these suppliers are able to efficiently maximize revenues. Using
Monaker’s Premium Service, individual property owners can enjoy many of the
same benefits. Key elements of the service include:
·
Active management
of the homeowner’s calendar, opening the door for real-time booking capability
·
Comprehensive
management of guest communications ranging from booking to checkout, including
inquiries, booking requests and 24/7 emergency assistance, offering the
potential to save multiple hours each week that are normally required to manage
listings
·
International
distribution across global booking platforms with native language conversions
and pricing available in all major currencies
·
Customized
revenue and pricing management tools that update property pricing on a daily
basis to better reflect real-time market conditions
For
Monaker, the launch of its Premium Service is a win-win. According to the
company’s pilot marketing efforts, Premium Service clients can expect to see an
increase of 50 percent or greater in year-over-year booking revenue while
enjoying a substantial reduction of about 10 hours per week to the time
required to manage listings. By offering these industry-leading perks, Monaker
expects to enjoy added success in attracting more individual and unique
properties to its rapidly-expanding alternative lodging inventory. In a
shareholder update issued in June, the company reported approximately 1.1
million alternative lodging rental units under contract with its NextTrip
Resorts platform, with plans to add more than 200,000 additional timeshare or
resort units by the end of the year.
“The
Premium Service leverages our deep expertise in inventory acquisition,
reservations services, technology and distribution,” Bill Kerby, chairman and
chief executive officer of Monaker, stated in a news release. “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.”
According
to a report from Research and Markets, the global vacation rental market is
expected to reach $169.7 billion by 2019. Additional insights reveal that
roughly 24 percent of leisure travelers have stayed in a vacation home rental
during the past two years, while about 47 percent are interested in staying in
an alternative lodging rental during the next two years. All told, the
alternative lodging market “is known to be one of the fastest growing segments
in the Travel space,” as alluded to by Kerby in the news release.
For
more information, visit www.MonakerGroup.com
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