WESTON, FL, Feb. 28, 2018 (GLOBE NEWSWIRE) -- Monaker Group (NASDAQ: MKGI), a travel industry technology leader, announced today that final configuration for its cloud-based Monaker Booking Engine (MBE) with Trisept Solutions (Trisept) platform is nearing completion.
Trisept serves the world's leading airlines, hotels and resorts, tour operators, travel agencies, tourist bureaus, theme parks and other travel sellers through its comprehensive merchandising product suite: VAX VacationAccess, Xcelerator and Synapse.
The customization and integration of MBE has been designed to enable Trisept to offer instantly-bookable vacation rentals of homes, apartments, villas, castles and resort residences, located in prime locations around the world, across its travel platforms.
Driven by proprietary technology, MBE dynamically controls Monaker’s contracted vacation rental properties, allowing agents and clients to search and instantly book reservations for alternative lodging. This compares to the traditional industry method of waiting with uncertainty for a property owner to respond to a booking request, as well as no practical means for agents to receive a commission.
On February 22, 2018, John Ische, Trisept CEO, announced the launch of their redesigned VAX VacationAccess platform, creating an enhanced marketplace for their community of more than 90,000 travel professionals. The VAX redesign has a more engaging user experience and better resources to service clients on one site and was designed for upcoming enhancements, including vacation rentals, guided tours, cruise content and technology.
In July 2017, Monaker expanded its Agreement with Trisept to be the exclusive provider of vacation rentals and alternative lodging on Trisept’s VAX VacationAccess platform bringing the first real time booking capability for over one million alternative lodging properties to North American travel agents.
Following the final configuration, testing, and launch on Trisept’s VAX VacationAccess platform, Monaker product offerings will be available for integration to the portfolio of customers on Trisept’s platform.
Commenting on deployment, Monaker CEO Bill Kerby stated: “While the integration and customization have been technically challenging and lengthy, it has helped shape MBE into a more robust and capable system. In this final phase, Trisept and Monaker IT teams are working to assure MBE is set to scale for the high volume of activity expected to flow through the system.”
Monaker expects to benefit from the growing demand for ALR and the skyrocketing growth in digital travel sales. The ALR industry is expected to grow at more than 7% CAGR to $194 billion in 2021, according to Technavio, making it one of the fastest growing sectors of the travel industry. Meanwhile, worldwide digital travel sales will climb at a 9.7% compounded annual growth rate to top $817 billion by 2020, says eMarketer.
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. 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.