LockTrip Reports a 29% Increase in Booking Volumes for May 2024
Welcome to LockTrip’s booking report for May 2024! Last month was a moderately strong one, showing good results for metrics such as the booking volume (+29% YoY) and the number of core bookings (+33% YoY).
On the other hand, the restructuring process of our marketing campaigns negatively impacted bookings from newer users, which is expected to be of temporary nature. Let’s dive into the report!
Note: Cancelled bookings are not included in our reports.
Room-Nights Booked
A total of 842 room-nights were booked through the LockTrip.com marketplace in May, notably below previous levels due to the restructuring of our marketing campaigns (core bookings remained strong).
Booking Volume (EUR)
Looking at the volumes for the month, a strong result of 183,000 EUR was recorded. This is due to high value bookings making up for the fewer nights booked. Year over year, volumes continued to grow by 29%.
Share of New Lead Bookings
“New Lead Bookings” are defined as placed within 30 days after registration. Thus measuring the contribution of newly acquired users to the total performance.
Reaching 31% for the month of May, the rate of new user acquisition showed a small recovery, albeit remaining below previous levels. This is likely due to the combination of campaign restructurings and stronger measures taken against multi-accounting.
Core Bookings
“Core Bookings” are defined as bookings that are made by users with at least six months of membership history.
This metric helps us identify the long-term booking trends and cumulative potential of the existing user base. By focusing only on older accounts, we are able to filter out the short-term volatility arising from marketing campaigns and other factors.
May turned out to be another strong month for core bookings, growing by 33% year over year. The continued strength shows that the marketing campaigns achieve lasting conversions and expand our core user base.
Most Booked Countries
European countries continue to dominate the ranking, with Italy remaining at the top position. The US performed a surprising jump and reached the 2nd position (5th last month). Looking at the regional breakdowns, six out of the top ten countries are Mediterranean ones.
New Referrals
“New Referrals” are defined as users who are assigned to a LockTrip affiliate and verified their email address.
Affiliate activity can be quite dynamic, but the chart shows a healthy progression throughout the past two years. 2024 started on a high level, achieving five very strong months in sequence.
We do anticipate reduced numbers in the near term as stronger anti-abuse measures are going into effect, along with the discontinuation of the discount codes. These should mostly impact non-genuiene referral acquisition while protecting our core contributers.
New Verified Users
Looking at the broader picture including all users, we see a clear shift starting with January 2023. The rate of user acquisition more than doubled since then, thanks to the ongoing marketing campaigns.
May recovered from the short-lived drop in April, by reaching more than 5,000 new users.
Total Verified Users
As a result, the total number of verified users on the marketplace reached 136,000.
Monthly Unique Paying Users
“Unique Paying Users” is defined as the number of users who made at least one booking during the month (excluding cancellations).
290 unique customers made bookings in May, in line with the performance of room-nights booked.
Total Unique Paying Users
Looking at the broader picture, we surpassed 5,000 unique paying users on the marketplace for the first time!
LOC Burns
The total number of burnt LOC reached 218,000 by the end of May. In addition to that, more than 28,000 LOC were waiting to be burnt once the customers check into their hotels. Thus surpassing a combined 246,000 LOC!
That’s it for the month! The next report is scheduled for July.
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