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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