Highlights Launch of Alternative Lodging Instant-Booking Platform

Weston, FL, Feb. 08, 2018 (GLOBE NEWSWIRE) -- Monaker Group (OTCQB: MKGI), a travel and technology company focused on the alternative lodging rental (ALR) market, provided a review of its fiscal year ending February 28, 2018.

“As our fiscal year comes to a close, we are extremely pleased with the progress the company has made not only through development of our technology platform, but also while amassing significant inventory and distribution partners. We are now in final stages for launching the travel industry’s first B2B reservation system that supports instantaneous booking for over one million alternative lodging rentals, and moreover, one that is fully-customizable and can be integrated into existing travel agent booking systems,” said Monaker CEO, Bill Kerby.

“We have established relationships with a number of key industry partners and expect to soon announce the integration of Monaker’s booking engine with their platforms. While this process has been a tremendous undertaking, we are confident it will establish Monaker as a prominent player in the vacation rental space.”

Fiscal 2018 Highlights

• Completed proprietary Monaker Booking Engine (MBE), the first customizable, alternative lodging booking engine with instant booking of vacation homes, villas, chalets, apartments, condominiums and castles. As a cloud-based platform driven by proprietary technology and contracted properties, MBE dynamically controls ALR inventory, allowing users to search and instantly book their reservations. This contrasts to the traditional industry method of waiting with uncertainty for the property owner to respond to a booking request. The Monaker booking engine conforms to all online travel industry standards, and facilitates easy business-to-business (B2B) integration.
• Contracted and integrated with a significant number of property management companies, gaining access to instantly bookable vacation rental homes on a global basis.
• Signed several industry partners and began integrating MBE into their travel booking platforms for distribution of Monaker’s vacation rental homes. As part of the integrations, Monaker has commenced beta testing with travel agents and end customers.
• Expanded Monaker’s vacation rental inventory and completed integrations with several channel partners, opening access to additional resort residence inventory. The company is in the process of uploading and certifying additional inventory from secured contracts in efforts to reach its target of increasing ALR inventory to more than two million properties later this year.
• Selected by Exponential as exclusive supplier for alternative lodging properties to their global charity platforms.
• Launched initial NextTrip, a travel website and companion mobile app featuring instant booking ALRs.
• Signed a distribution agreement with Trisept Solutions, a sister company of Mark Travel, to be their exclusive provider of ALR properties. The integration will provide Monaker access to distribute vacation rental homes to more than 200 travel companies already linked to the Trisept platform. Access includes VAX VacationAccess with 88,000 travel agents, and numerous Mark Travel branded sites, such as  Funjet Vacations, Southwest Vacations, United Vacations, to Exclusive Group Travel, Blue Sky Tours and Universal Vacations.
• Expanded the Monaker IT team with additional core travel and lodging platform experience.
• Streamlined operations to substantially reduce cost, while preparing for ramp up in booking volume.
• Divested non-core assets, eliminated all convertible debt, completed more than $2.5 million in warrant exercises, and raised $3 million in a private placement with insiders and institutional investors, to convert shareholders equity from a deficit to a $5 million surplus.
• Board and insider beneficial ownership increased to 55.7% through additional investment.
• Settled all litigation with RealBiz Media Group resulting in the reinstatement of Monaker’s 13% ownership, with an anti-dilution provision, in RealBiz. RealBiz is being repositioned as a food brokerage company with a separate real estate division (to be spun off) which we will pro-rata own after the spinoff.
• Granted dismissal of proposed class action lawsuit:  The United States District Court for the Southern District of Florida dismissed the proposed class action that was originally filed in December 2016 against Monaker and certain of its officers, directors and former auditor. Monaker reported on December 13, 2016 that a proposed class action had been filed in the United States District Court for the Southern District of Florida against the company alleging violations of federal securities laws. The court rejected these claims and provided plaintiffs with leave to amend by February 23, 2018.
• Submitted application for an up listing to the NASDAQ Capital Market.

Company Goals for First Quarter of Fiscal 2019

• The company looks to take advantage of the growing demand in the ALR market. ALR has become one of the fastest growing sectors of the travel industry and is expected to grow at 7% CAGR to $194 billion by 2021, according to Technavio.
• Complete the Trisept Solutions integration and initial deployment on its VAX system for 88,000 travel agents. Thereafter expand into other distribution opportunities within the Trisept network.
• Deploy with multiple large lodging distribution partners, generating significant additional revenue streams.
• Commercial launch of an enhanced NextTrip website to include dynamic packaging, non-published airfares, vacation planner and social media enhancements.
• Commercial launch of new platform, tailored to the travel specs of Recruiter.com, who will direct the marketing initiatives to its members.
• Launch EXVG.com (Extraordinary Vacations Group) website with request/accept properties, and an enhanced property managers platform allowing for easier integration and expanded property reach (particularly in North American markets).
• Complete uplisting process with NASDAQ Capital Markets.

Monaker anticipates filing its fiscal year 2018 financial results by the 15th of May, 2018.

About Monaker Group

Monaker Group is a technology-driven travel company focused on delivering innovation to alternative lodging rentals (ALR) market. The Monaker Booking Engine (MBE) delivers instant booking of more than one million vacation rental homes, villas, chalets, apartments, condos, resort residences and castles. MBE offers travel distributors and agencies an industry-first: a customizable, instant-booking platform for alternative lodging. For more information, visit www.monakergroup.com.

Important Cautions Regarding Forward Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties concerning the plans and expectations of Monaker. These statements are only predictions and actual events or results may differ materially from those described in this press release due to a number of risks and uncertainties, some of which are out of our control. The potential risks and uncertainties include, among others, the expectations of future growth may not be realized, and the company may not meet applicable NASDAQ Capital Market requirements necessary for listing and/or NASDAQ may not approve the company’s listing application. These forward-looking statements are made only as of the date hereof, and Monaker undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are expressly qualified in their entirety by the “Risk Factors” and other cautionary statements included in Monaker’s annual, quarterly and special reports, proxy statements and other public filings with the Securities and Exchange Commission (“SEC”), including, but not limited to, the company’s Annual Report on Form 10-K for the period ended February 28, 2017, which has been filed with the SEC and is available at www.sec.gov.