The
travel and hospitality industry is changing, with companies worldwide
attempting to strengthen their positions within the industry by increasing
consolidations, examples being hotels such as Marriott (NASDAQ: MAR),
AccorHotels, and others. At the same time, other companies are focusing less on
consolidation and more on incorporating new business models that meet consumer
needs.
One
growing area in the industry is the concept of sharing, facilitated by the
efficient processing of business and consumer communication. Companies such as
Airbnb, OpenTable, and Uber are focused on helping customers find what they
need rather than offering their own brick and mortar facilities or other
physical assets.
Next
year is expected to be a growth year for this new sharing economy. The concept
is simple: instead of having excess supply and/or demand, the sharing economy
aims to keep supply and demand in balance. Companies worldwide will provide as
much as the consumer needs when he/she needs it, with an emphasis on
convenience. New business models ensure that the experience is as convenient as
possible for the consumer. They are referred to as ‘market-makers’, because
they control both supply and demand, which in turn has created a major move
toward convenience that has been lacking in the industry.
To
generate this cost and market effectiveness that is convenient for the
consumer, companies are required to partner with the customer. The customer
wants to be connected to his/her experience. Partnering with the customer means
connecting with the customer. This not only allows the customer to participate
in the design of his/her experience but also enables the companies to gather
more feedback, which in turn can be shared with other customers.
Monaker
Group, Inc. (OTCQB: MKGI), a technology-driven travel company, offers travel
solutions to every demographic through its booking engine, NextTrip.com.
Through NextTrip, customers are able to choose from a range of transport
options, accommodations, tours, and much more. Monaker has incorporated itself
within the new sharing economy, where guests are able to make decisions based
on their demographic, holiday requirements, time preferences, and, thanks to
social media, other people’s experiences.
For
more information, visit www.MonakerGroup.com
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MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
