Monaker Group Announces Launch of NextTrip Business, the Company’s Corporate Travel and Expense Management SaaS Solution
Monaker Group has launched NextTrip Business, a subscription-based corporate travel and expense management SaaS solution aimed at small to medium-sized businesses. This platform allows users to track travel expenditures and book flights, accommodations, and transportation in one place. It features access to 3.4 million alternative lodging options and offers customizable travel spend policies. Additionally, a mobile app is set to launch, enhancing user experience. The company is also in the process of acquiring HotPlay Enterprise Limited, which will further its transformation into NextPlay Technologies.
- Launch of NextTrip Business enhances Monaker's product offerings.
- Access to 3.4 million alternative lodging options provides competitive advantage.
- The platform is designed specifically for small to medium-sized businesses, addressing a significant market need.
- Customization of travel spend policies can lead to better financial management for companies.
- The travel industry is still recovering from the COVID-19 pandemic, posing risks to business growth.
- Reliance on additional capital raises concerns about financial stability and going concern status.
- Potential dilution of shares through financing efforts may impact shareholder value.
WESTON, FL, Jan. 25, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Monaker Group, Inc. (NASDAQ: MKGI) (‘Monaker’ or the ‘Company’), a technology solutions company, today announced the launch of NextTrip Business, its corporate travel and expense management SaaS solution. The subscription-based software solution helps companies track and control travel expenditures while offering employees a single platform on which to book flights, accommodations, and transportation reservations.
The proprietary NextTrip Business was designed by Monaker using feedback from small to medium-sized business owners specifying the features that are important to them in managing travel. The result is an affordable, robust travel and expense management solution with features previously only available on enterprise level platforms.
The NextTrip Business platform offers users access to Monaker Group’s 3.4 million instantly confirmed Alternative Lodging Accommodations, an increasingly popular booking option. NextTrip Business features one of the largest inventories of flights, accommodations, alternative lodging, and car rentals with aggressively negotiated rates where available. Organizations can customize travel spend policies to stay on budget, pre-approve costs and streamline expense reports. Three subscription tiers offer increasing levels of savings and functionality.
“Throughout the pandemic, Monaker Group has focused its efforts on developing a corporate travel management solution that provides small to medium-sized businesses with robust features that are traditionally available only on costly enterprise platforms,” said Tim Sikora, Chief Operations, and Information Officer for NextTrip. “As business travel resumes, companies will focus on customizing and managing their travel expenses. NextTrip Business is designed to fulfill those needs and capitalize on increased scrutiny of travel and related expenses.”
A NextTrip Business mobile application, developed for both the iOS and Android operating systems, is expected to launch this Spring, and will allow users to book/manage travel and track expenses on mobile devices. Additionally, subscribers can obtain personalized, relevant content about their trips, including points of interest and the ability to book restaurants, attractions, and ride-sharing services. Integration with QuickBooks will also be introduced soon. For more information on the NextTrip corporate travel and expense management solution, including a demo, please visit www.nexttrip.com
About Monaker Group
Monaker Group, Inc., is an innovative technology-driven company with plans to build a next-generation company through acquisition and organic growth, leveraging the strengths and channels of our existing technologies with those that we acquire, creating synergy and opportunity in the leisure space. Monaker Group is a party to a definitive agreement (subject to closing conditions, including shareholder approval for the transaction) to acquire HotPlay Enterprise Limited, an innovative in-game advertising and AdTech company. Following the completion of the proposed HotPlay acquisition, Monaker Group plans to transform into NextPlay Technologies, an innovative global technology company focused on consumer engaging products in the video gaming and travel verticals with innovative Ad Tech, Artificial Intelligence and Blockchain solutions. For more information about Monaker Group, visit www.monakergroup.com and follow on Twitter and Linkedin @MonakerGroup.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of, and within the safe harbor provided by the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations, opinions, belief or forecasts of future events and performance. A statement identified by the use of forward-looking words including “will,” “may,” “expects,” “projects,” “anticipates,” “plans,” “believes,” “estimate,” “should,” and certain of the other foregoing statements may be deemed forward-looking statements. Although Monaker believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release. Factors that may cause such a difference include risks and uncertainties related to our need for additional capital which may not be available on commercially acceptable terms, if at all, which raises questions about our ability to continue as a going concern; the fact that the COVID-19 pandemic has had, and is expected to continue to have, a significant material adverse impact on the travel industry and our business, operating results and liquidity; amounts owed to us by third parties which may not be paid timely, if at all; certain amounts we owe under outstanding indebtedness which are secured by substantially all of our assets; the closing of the offering disclosed above, and the ultimate terms thereof, including consideration payable to Longroot in connection therewith; the fact that we have significant indebtedness, which could adversely affect our business and financial condition; our revenues and results of operations being subject to the ability of our distributors and partners to integrate our alternative lodging rental (ALR) properties with their websites, and the timing of such integrations; uncertainty and illiquidity in credit and capital markets which may impair our ability to obtain credit and financing on acceptable terms and may adversely affect the financial strength of our business partners; the officers and directors of the Company have the ability to exercise significant influence over the Company; stockholders may be diluted significantly through our efforts to obtain financing, satisfy obligations and complete acquisitions through the issuance of additional shares of our common or preferred stock; if we are unable to adapt to changes in technology, our business could be harmed; our business depends substantially on property owners and managers renewing their listings; if we do not adequately protect our intellectual property, our ability to compete could be impaired; our long-term success depends, in part, on our ability to expand our property owner, manager and traveler bases outside of the United States and, as a result, our business is susceptible to risks associated with international operations; unfavorable changes in, or interpretations of, government regulations or taxation of the evolving ALR, Internet and e-commerce industries which could harm our operating results; risks associated with the operations of, the business of, and the regulation of, Longroot; the market in which we participate being highly competitive, and because of that we may be unable to compete successfully with our current or future competitors; our potential inability to adapt to changes in technology, which could harm our business; the volatility of our stock price; risks associated with our pending share exchange agreement with HotPlay Enterprise Limited, including our ability to close such transaction and dilution caused by such closing, as well as dilution caused by the conversion of our outstanding Series B Preferred Stock and Series C Preferred Stock; the fact that we may be subject to liability for the activities of our property owners and managers, which could harm our reputation and increase our operating costs; and that we have incurred significant losses to date and require additional capital which may not be available on commercially acceptable terms, if at all. More information about the risks and uncertainties faced by Monaker are detailed from time to time in Monaker’s periodic reports filed with the SEC, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, under the headings “Risk Factors”. These reports are available at www.sec.gov. Other unknown or unpredictable factors also could have material adverse effects on the Company’s future results and/or could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made only as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
Company Contact:
Monaker Group, Inc.
Richard Marshall
Director of Corporate Development
Tel (954) 888-9779
rmarshall@monakergroup.com
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