ApartmentLove Inc.
CALGARY, Alberta, Oct. 18, 2022 (GLOBE NEWSWIRE) — ApartmentLove Inc. (CSE: APLV) (“Apartment Love” or the “company”), a leading provider of online home, apartment and vacation rental marketing services for homeowners, renters and vacationers worldwide is pleased to announce that it has entered into a Distribution Partner Agreement (the “agreement”) with one of the largest short-term vacation rental facilitators operating online today. The listing partner maintains an active inventory of over 680,000 short-term vacation rentals worldwide and through its robust API (the “API”) will extend direct access to its thousands of vacation management and property owner customers to seamlessly deliver their entire rental inventory to ApartmentLove for real-time promotion at www.ApartmentLove.com.
Pursuant to the Agreement, ApartmentLove will earn a fee for the gross booking value of each booking successfully completed on ApartmentLove.com. “A fully integrated and automated vacation rental marketing solution, the Agreement and our API integration further expands the reach and capability of our flagship ApartmentLove.com rental marketing platform while adding a exceptional value and exposure for property owners and managers seeking tenants from around the world,” exclaimed Trevor Davidson, President and CEO of ApartLove Inc. Mr. Davidson went on to say that the company has integrated with many similar APIs, noting that ApartmentLove’s engineering team has already started working on connecting with the API, adding, “Allowing extensive user testing period, we expect these new short-term vacation rental listings to begin appearing on ApartmentLove.com via the API in the fourth quarter of 2022 and for bookings to materialize early in the New Year in the same step of our continuous investments in SEO and other forms of marketing and promotions”.
A business deal very similar to the one the company announced via press release on August 23, 2022, the deal further underscores the company’s commitment to the short-term vacation rental space as a very strong and cash rich global asset class. Pursuant to the Agreement, ApartmentLove will earn a fee equal to approximately 15% of the gross booking value of each successfully completed booking on ApartmentLove.com, which is in line with prevailing industry pricing standards. Management believes the deal will add significant new revenue for the company starting in the new year and will flow substantially all of those sales into the company’s bottom line with a contribution margin of close to 90%, as evidenced by the efficiency of the business model and the lucrative nature of the contracts that the company continues to sign. Management believes, based on its current short-term vacation revenue metrics, including historical revenue per user, cost of goods sold, search engine optimization capital expenditures and website traffic website at ApartmentLove.com over the past 24 months, that this Agreement could generate between $2,000,0000 and $3,000,0000 in EBITDA in 2023 alone.
“Just like we’ve done many times in the past, my team has their instructions and we’re working on the integration documentation,” added Ken Lang, blockchain expert and chief technology officer at ApartmentLove. Mr. Lang continued, “These kinds of projects are fun for us. As we head toward one million rental listings worldwide, the ApartmentLove.com app is getting stronger and our best practices are even better. In full growth mode, we look forward to this next round of major development. A very exciting time for all of us.”
On the strength of the company’s significant investments in search engine optimization (“seo”) to better align ApartmentLove.com with the Google algorithm, ApartmentLove.com continually sets company website traffic records as user and lead volumes generated continue to exceed budgeted management expectations . Having established the company’s position at the forefront of the long-term rental market, management has shared a desire to own and control all aspects of the online rental experience and crystallize its presence in the deeply fragmented vacation rental sector is key to realizing that goal. The execution of the Agreement advances this mandate and affirms the Company’s desire to lead this class.
About ApartmentLove Inc.
ApartmentLove Inc. (CSE: APLV) is a leading provider of online rental marketing services for owners, renters and vacationers in more than 30 countries worldwide. Having demonstrated its ability to scale as a fast-growing “PropTech” in today’s complex and dynamic market environments, ApartmentLove is fueling its growth through an acquisition program: buying complementary companies that have many active users monthly payments, a track record of recurring revenue, positive cash flows, and customized technologies that accelerate and de-stress the rental experience, while advancing their own organic growth strategies in key markets around the world. ApartmentLove Inc. is a publicly traded company with its common stock listed on the Canadian Stock Exchange (CSE: APLV).
For more information visit or contact:
Trevor Davidson
President & CEO
ApartmentLove Inc.
tdavidson@apartmentlove.com
(647) 272-9702
Advice to the reader
Certain information set forth in this press release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties, some of which are beyond the company’s control. Forward-looking statements are often characterized by words such as “plan”, “continue”, “expect”, “project”, “attempt”, “believe”, “anticipate”, “estimate”, “could”, “will”. , “potential,” “proposed,” and other similar words, or statements that certain events or conditions “may” or “will occur.” These statements are predictions only. Readers are cautioned that the assumptions used in the preparation of this information, although believed to be reasonable at the time of preparation, may turn out to be inaccurate and, as such, undue reliance should not be placed on any forward-looking statements type Forward-looking statements include, but are not limited to, the expected benefits of the Agreement and the Company’s ability to achieve the benefits of the Agreement; expected revenue per user; the estimated cost of goods sold; planned capital investment in SEO; expected website traffic to ApartmentLove.com; the Company’s SEO resulting in first page search results on popular search engines in the geographic locations in which the Company operates; management’s projected earnings generated by the Agreement through 2023; the company realizing the benefits of its organic growth mandate; the company’s ability to become cash flow positive; and the Company’s ability to successfully integrate and realize the benefits of the Agreement. The Company undertakes 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 filed on SEDAR and accessible at www.sedar.com.
This press release contains “forward-looking financial information” and “financial outlook information” (collectively, “FOFI“) on the Company’s expected deal-generated EBITDA for 2023. Company management provides FOFI to demonstrate the Company’s anticipated potential earnings and related margins of such earnings, as agreed, and the reader is cautioned. that this information may not be suitable for any other purpose and the reader should not place undue reliance on FOFI. FOFI, as with forward-looking information generally, is are based, without limitation, on the assumptions and subject to the risks set forth above under the heading “Advisory to the Reader.” The Company’s actual results of operations and resulting financial results will likely differ from the amounts set forth in this press release and such variation may be material. The Company and its management believe that the FOFI has been prepared on a reasonable basis, reflecting management’s best estimates and judgments as of the date hereof; however, because here this information is subject. and subject to numerous risks, should not be relied upon as necessarily indicative of future results. The forward-looking information and FOFI contained in this press release speak only as of the date of the document, and neither the Company nor its subsidiaries undertake any obligation to publicly update or revise them to reflect new events or circumstances, except when required in accordance with applicable legislation. Actual results could also differ materially from those anticipated in these forward-looking statements and FOFI due to the risk factors set forth under the heading “Risks” in the Company’s Management’s Discussion and Analysis for the three and six months ended on June 30, 2022, dated August 11, 2022.
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