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Monaker Submits Application for NASDAQ Capital Market Up-Listing
Oct. 10, 2017 09:04AM PST
Data Investing
Monaker Group (OTCQB:MKGI) has announced that it has submitted a formal application to list its common stock on the NASDAQ Capital Market. As quoted in the press release: “We believe up-listing to NASDAQ should increase awareness of Monaker in the financial community,” said the company’s CEO, William Kerby. “The benefits provided by the NASDAQ listing …
Monaker Group (OTCQB:MKGI) has announced that it has submitted a formal application to list its common stock on the NASDAQ Capital Market.
As quoted in the press release:
“We believe up-listing to NASDAQ should increase awareness of Monaker in the financial community,” said the company’s CEO, William Kerby. “The benefits provided by the NASDAQ listing would be timely as we expect the first B2B deployment of our alternative lodging rentals (“ALR”) platform this fall, launching with several of our travel distributors.”
The Monaker Booking Engine, or MBE, is a cloud-based technology platform that delivers the travel industry’s first customizable solution of over 1 million instantly-bookable homes, apartments, villas, castles and resort residences located in prime locations around the world. The MBE application programming interface (API) creates a B2B solution for travel companies to access Monaker’s properties for display and instantaneous booking alongside their website offerings for air travel, car rentals and tour packages.
The company’s large and growing global ALR inventory can provide the thousands of travel companies around the world an easy, commissionable option for selling vacation property rentals.
Monaker expects to benefit from the growing demand for ALR and the notable growth in digital travel sales. The global ALR industry is expected to grow at more than a 7% compound annual growth rate 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 are anticipated to climb at a 9.7% compounded annual growth rate to top $817 billion by 2020, says eMarketer.