LockTrip Reports 126% Growth in Q2 2022!

In the second quarter of 2022, a total of 1,702 room-nights were booked through the LockTrip.com marketplace. This represents a 126% increase compared to the same quarter of last year. The total volume of bookings reached $225,000 — up 64% year over year.

In the chart below, you will see the amount of room-nights booked in the trailing twelve months period (TTM) for each quarter.

Geographical Distribution

The map above shows the geographical distribution of the destinations booked. A total of 55 countries were travelled by LockTrip customers, spread across 6 continents. The most popular country was Croatia, which managed to attract a lot of European visitors.

Looking at the continental distribution, we have seen the continuation of a dominant Europe, capturing 76.6% of all room-nights booked (down from 79.7% in the previous quarter)!

Asia managed to double its share relative to the last quarter, mostly thanks to the strong performance of China.

Payment Methods

Crypto payments accounted for 3.4% of all bookings. However, they contributed 5.1% in terms of volumes, thanks to a higher average value compared to credit card bookings.

Distribution of Booking Values

In the graphic below, each circle represents an individual booking.

The average booking value was $418 for the period of Q2, which is a slight increase compared to the previous quarter. The deviation around this average is large, with the lowest and highest value bookings ranging from $5.55 on the low end up to $5,000 for the booking with the highest value.

Discounts & Pricing

For the past quarter, 70% of bookings made on LockTrip.com offered savings compared to traditional booking sites. The remaining 24% matched publicly available pricing.

On average, LockTrip.com users realized 19% in savings across all bookings — and 27% considering only bookings with a discount.

Outlook for Q3 2022

The performance of the current quarter has been strong so far, with both July and August scoring record or near-record levels. If September follows this trajectory, we should close the quarter with another all time high.

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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.