LockTrip Q1 2021 Booking Report
LockTrip Outperforms the Industry by 63%
In the first quarter of 2021 a total of 210 room-nights were booked through the LockTrip.com marketplace. This represents a 20% increase compared to the previous quarter. The total volume of bookings was $26,600, up 45%.
Geographical Distribution
The map above shows the geographical distribution of the destinations booked. As can be seen, Europe was impacted most due to having the tightest travel restrictions. Since this region has traditionally been our strongest area, it hints towards a strong upside potential as soon as restrictions are eased.
In the meantime we see hotspots like the Arabic Emirates, where travel is allowed and the sun is shining. Overall, non-European countries have grown their share significantly.
Looking at the continental distribution, there is now a very different situation compared to Q3, when 70% of bookings came from Europe. In Q1, we saw the share of Europe shrink to only 24% due to the above mentioned reasons. Especially continental Asia has performed very well — mostly in the region of middle east and Turkey.
As soon as European countries re-open, we expect the trend to reverse again.
Booking Values
In the graphic below, each booking is represented by a small circle.
The average booking value was $277 for the period of Q1, slightly higher than last quarter. The deviation around this average is significant, with the lowest and highest value bookings ranging from $14 on the low end up to $3,300 for the booking with the highest value.
Special Edition — LockTrip vs. Industry
In times of sudden and impactful changes, it is often a better approach to measure growth relative to the industry average.
In the graphic below, we have charted the year-over-year growth rates for LockTrip, Expedia and Booking.com.
The graph shows LockTrip consistently outperforming the two biggest players in the industry. It is also visible that the major marketplace upgrade deployed at the beginning of Q3 accelerated the trend.
To further illustrate the magnitude of this, we have calculated the relative growth rate for each quarter (YOY).
In Q1 LockTrip outperformed the industry by 63%, building on the 76% growth rate for the same period last year. Although there is no guarantee that this will translate to absolute numbers once restrictions ease up, it is nevertheless a strong sign and tunes us highly optimistic.
Outlook for Q2 2021
As the world experiments with opening up and vaccination rates grow steadily, we expect a strong recovery for the upcoming two quarters. Some early signs are visible though the bookings of April and the first week of May already.
In order to provide our community with better data and make it easier for affiliates to time their campaigns, we will soon be resuming our real-time updates in the LockTrip Telegram group whenever a new booking is made. Join it now in order to stay up to date:
LockTrip is a blockchain-based travel marketplace that allows users to save up to 60% on their bookings by cutting out middlemen. Every booking burns LOC proportionally to its booking value, continuously reducing its total supply.
