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