CALGARY, Alberta, Aug. 23, 2022 (GLOBE NEWSWIRE) -- ApartmentLove Inc. (CSE: APLV) ("ApartmentLove" or the "Company"), a leading provider of online home, apartment, and vacation rental marketing services to owners, renters, and vacationers nationwide is pleased to announce it has entered into an Affiliate Agreement (the "Agreement") with one of the largest vacation rental facilitators online today. The listing partner maintains an active inventory of more than 120,000 short-term vacation rentals in more than 80-countries on 6-continents around the world and will extend their entire rental inventory to ApartmentLove.com via dedicated API data transfer feed ensuring safety, reliability, efficiency, and superior access for the millions of people that visit ApartmentLove platforms each year.
Per the Agreement, ApartmentLove will earn a fee on the gross booking value of every successfully completed vacation rental made on ApartmentLove.com. Based on ApartmentLove's predictive modelling program's estimated average number of monthly users throughout 2023 and its assumed conversion rate from website sessions to actual purchase metrics, Management believes it reasonable that transaction fees earned from this new partnership will generate significant revenues. Assuming the Company's standard rate of expenses being between 10% and 15% of revenue, ApartmentLove reasonably anticipates net income from this partnership to be between $2,500,000 and $4,000,000 in 2023. Accordingly, ApartmentLove and its newest listing partner are now actively integrating their respective systems and plan to go-live early in the 4th quarter ahead of the busy Thanksgiving and Christmas holiday travel seasons.
"Our recent acquisition of OwnerDirect.com, which closed July 14, 2022, represented our first material investment in the short-term vacation rental space," explained Trevor Davidson ? President & CEO of ApartmentLove. Mr. Davidson continued to say, "This newest partnership will significantly enhance our already fulsome product offering adding many new and varied vacation rental options to choose from for our fast-growing user base. As global travel restrictions continue to ease in connection with the pandemic, our research shows vacation travel is top of mind for many Americans and we are thrilled to assist them in their travel planning as they look for good and reliable accommodations in Canada, the United States, Europe, and elsewhere around the world."
"We've integrated with many similar APIs and already have an excellent handle on what needs to be done and how to complete this next build," added Blockchain Expert and Head of Technology for ApartmentLove Kenneth Lang. Mr. Lang continued to say, "My team have their instructions and we are all looking forward to releasing this next development round, greatly expanding our integrated asset base."
On the strength of the Company's significant investments in Search Engine Optimization ("SEO") to best align ApartmentLove.com with the Google Algorithm, ApartmentLove.com is continually setting website traffic records as usership and generated lead volumes continue to outperform budgeted management expectations. Having well-established the Company's position at the forefront of the long-term rental market, Management has shared a want to own and control all aspects of the online renting experience and crystalizing its presence in the deeply fragmented vacation rental sector is key in realizing that goal.
About ApartmentLove Inc.
ApartmentLove Inc. (CSE: APLV) is a leading provider of online rental marketing services to property owners, renters, and vacationers in more than 30-countries around the world. Having proven its ability to scale as a fast-growing "PropTech" in today's complex and dynamic market environments, ApartmentLove is actioning its growth through acquisition program ? purchasing complementing businesses that have many monthly active users, a history of recurring revenues, positive cashflows, and custom technologies that both accelerate and destress the renting experience, while furthering its custom SEO and other organic growth strategies across the United States. ApartmentLove Inc. trades on the Canadian Securities Exchange (CSE: APLV).
For more information visit https://apartmentlove.com/investors or contact:
President & CEO
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the control of the Company. Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, no undue reliance should be placed on forward-looking statements of any kind. Forward looking statements include but are not limited to the anticipated benefits of the Agreement and the ability of the Company to realize the benefits of the Agreement; the Company realizing the benefits of its organic growth mandate; the ability of the Company to become cashflow positive; and the ability of the Company to successfully integrate and realize the benefits of the Agreement. The Company assumes no obligation to update forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law. Risk factors can be found in the Company's continuous disclosure documents which have been filed on SEDAR and can be accessed at www.sedar.com.
To the extent any forward-looking information in this press release constitutes "future-oriented financial information" or "financial outlooks" within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the anticipated product sales of the Company and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place any undue reliance on such future-oriented financial information and financial outlooks. Future-oriented financial information and financial outlooks, as with forward-looking information generally, are, without limitation, based on the assumptions and subject to the risks set out above under the heading "Reader Advisory". The Company's actual financial position and results of operations may differ materially from Management's current expectations and, as a result, the Company's actual revenue, expenses, and net income (if any) may differ materially from the prospective revenue, expenses, and net income projections provided in this press release. Such information is presented for illustrative purposes only and may not be an indication of the Company's actual financial position or results of operations in any way.
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