Mondee Launches Disruptive A.I. Platform and Travel Experiences Marketplace on the First Anniversary of Nasdaq Listing

(BUSINESS WIRE)--Mondee Holdings Inc. (Nasdaq: MOND) (“Mondee” or the “Company”), a technology-driven, next-generation marketplace in a $1 trillion segment of the travel market, today announced the introduction of Abhi, its revolutionary mobile-first A.I. platform with multi-party conversational commerce fully integrated into the Mondee Travel Marketplace. Released on the first anniversary of Mondee’s Nasdaq listing, the Mondee Marketplace provides a collection of global travel options with A.I.-embedded collaborative curation across all components of air, hotel and vacation rental accommodations, ground transportation, cruises, tours, packages, activities and events¹, all locally delivered.

The Mondee Travel Marketplace is among the first to combine leading technologies such as Generative A.I., deep learning, computer vision, and a recommendation engine to personalize and transform the travel booking process. Mondee also integrated a robust commerce engine, fintech tools, and significant enhancements into the Mondee A.I. cloud platform that amplifies the capabilities of Mondee’s A.I. powered Marketplace. The result is a powerful and seamless travel ecosystem providing travelers and their organizations with an end-to-end travel experience solution, fully supported by travel experts, influencers, and freelancers anytime, anywhere. The A.I. integration streamlines and simplifies how users plan, book, share, and even make changes to their trips.

Using the power of Mondee’s proprietary A.I. platform as well as multiple A.I. engines, such as Google Bard, OpenAI/ChatGPT and IBM Watson, Mondee has created Abhi – the most powerful personal A.I. travel assistant in the market. With Abhi, users have access to incomparable expertise and curation capability that saves users time by allowing them to efficiently book more immersive hyper-local and personalized experiences. Abhi can engage in meaningful conversations, understand complex queries and offer comprehensive responses. Unique to Mondee, Abhi instantaneously creates personalized travel guides with the utmost sophistication, based on users’ interests, so they can truly immerse themselves while traveling like locals throughout their journey.

The new Marketplace, available both as an app and on the web, empowers travel experts to expand their scope across global and local suppliers; there is no unknown destination or service. By providing global expertise and knowledge for users, Mondee is perfect for influencers and freelancers to commercialize their activities and create opportunities for employment across the globe. The Mondee Marketplace also offers a range of advanced features, such as modern fintech, conversational commerce, CRM and growth-enabling analytics.

“We are thrilled to introduce a new A.I. technology platform to our innovative journey and consumer travel experiences, which we expect will transform the travel marketplace,” said Prasad Gundumogula, Founder, CEO and Chairman of Mondee. “We are changing the travel industry once again by providing travel influencers, local experts and agents with unprecedented access and complete travel content in our unified Marketplace, as well as cutting-edge technology, such as Abhi, the A.I. platform with conversational commerce, to conveniently create and deliver personalized travel experiences. Furthermore, Mondee extends our offerings to organizations and nonprofits, providing them secure and economical travel solutions that can serve as leisure travel incentives, or membership benefits to their members or employees. Moreover, through their affiliated organizations and travel expert connections, travelers have access to a broad range of travel options at significantly discounted negotiated rates below those available on public travel sites.”

Key features of Mondee Marketplace include:

• Abhi, Mondee’s A.I. Platform: Abhi can engage users in meaningful conversations, understand complex questions, and offer comprehensive responses. It provides even more personalized suggestions as travelers turn their dream trip into a reality. Beyond that, Abhi can also instantly create a custom travel experience guide based on a traveler’s interests, making it easier than ever to refine the trip and complete the booking.
• TripBuddy, Mondee’s Conversational Commerce Platform: Travel experts and travelers can take advantage of close collaboration with Mondee’s advanced messaging and cart technology that makes discussing travel details and coordinating travel booking within a group of travelers easier than ever. With TripBuddy, travelers can build itineraries in a live environment and collaboratively book travel among friends, family or co-workers.
• Mobile-First Marketplace App: Launched for both iOS and Android, the mobile app features a fully integrated A.I. powered Marketplace platform for travelers, travel experts, influencers and organizations to be able to communicate, collaborate, rapidly create and complete personalized well priced experiences from amongst some of the widest varieties of global and local travel and activities options.
• Fintech Platform Specialized for Travel Industry: Mondee Marketplace is a secure, easy-to-use Marketplace where all transactions are made using the latest payment security tech and provides the ability to transact in over 20 currencies with global credit card processing, alternate payments and digital wallet options.
• Cruises: A revolutionary cruises platform fully integrated into Mondee's Marketplace that provides travelers a seamless shopping and booking experience. For travel experts, it is a comprehensive and dynamic cruise solution, simplifying the complex cruise related workflows to support their customer base.
• Refer-a-Friend Program: Travel influencers, experts and agents can earn revenue share on travel booked by the friends, family, co-workers, and customers that they refer and support.
• Actionable, Growth-Driving Analytics: Actionable insights with an advanced analytics dashboard where travel influencers, experts and agents have visibility into their traveler network activity, earnings, sales performance, support KPIs, rewards points and much more.
• Global Inventory Hub: Mondee’s Marketplace is enhanced with global content and negotiated inventory across multiple segments including flights, hotels, cars, cruises, local activities and other add-ons. Travel influencers, experts and agents can invite their travelers and dynamically set universal or trip-specific rewards and service fees.
• A CRM Optimized to Travel: A new generation CRM platform to manage customer profiles and preferences with the power of A.I./ML models and dynamic rules engines to provide travel experiences customized at the personal level.
• Multi-Language: The Marketplace² offers travel content in numerous languages and real-time translation. While continuously increasing, 19 languages are currently active, enabling travelers to interact with Mondee’s global experts to build travel experiences supported by local experts.
• Dynamic Packaging: In a single transaction, users can combine flights, hotels, rental cars, events and cruises with dynamic packaging and pricing.

Mondee is poised to make a significant impact in the travel industry with our innovative technology and comprehensive travel options.

Note to media: Mondee is hosting a live media event to showcase the breadth of features of the new Mondee Marketplace for media and investors on July 19, 2023 at 1 p.m. EDT/10 a.m. PDT/ 6 p.m. BST. This event will feature live Q&A with Mondee’s executive team. Register here.

For additional information or to download our media kit, please visit: mondee.com.

¹ Flight, hotel, and cruises are available on mobile and Web while cars are only available on Web.
² Available on Web-only.

ABOUT MONDEE

Established in 2011, Mondee is a travel technology company and a modern travel marketplace with its headquarters based in Austin, Texas. The company operates 17 offices across the United States and Canada and has core operations in India, Thailand, and Greece. Mondee is driving change in the leisure and corporate travel sectors through its broad array of innovative solutions. The company’s platform processes over 50 million daily searches and generates a substantial transactional volume annually. Its network includes approximately 60,000 leisure travel advisors and gig economy workers, 500+ airlines, and over one million hotels and vacation rentals, 30K rental car pickup locations, 50+ cruise lines. The company also offers packaged solutions and ancillary offerings that serve a global customer base. On July 19, 2022, Mondee became publicly traded on the Nasdaq under the ticker symbol MOND. For further information, visit: mondee.com.

Forward-Looking Statements:

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements can be identified by words such as: “believe,” “can”, “"may,” “expects,” “intends,” “potential,” “plans,” “will” and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding the Company’s future growth, performance, business prospects and opportunities, strategies, expectations, future plans and intentions or other future events are forward looking statements. Such forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements.

Management believes that these forward-looking statements are reasonable as and when made. However, the Company cautions you that these forward-looking statements are subject to risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, the ability to implement business plans and forecasts; the outcome of any legal proceedings that may be instituted against the Company or others and any definitive agreements with respect thereto; the ability of the Company to grow and manage growth profitably maintain relationships with customers and suppliers and retain its management and key employees; the ability of the Company to maintain compliance with Nasdaq’s listing standards, and other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 10-K/A for the year ended December 31, 2022, filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 19, 2023 and in the Company’s subsequent filings with the SEC. There may be additional risks that the Company does not presently know of or that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.

Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. In light of the significant uncertainties in these forward-looking statements, you should not rely upon forward-looking statements as predictions of future events. Except as required by law, Mondee undertakes no obligation to update publicly any forward-looking statements for any reason.

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