LockTrip Reports a 35% Increase in Booking Volumes for September 2024
Welcome to LockTrip’s booking report for September 2024! Last month was a strong one, showing good results for metrics such as the booking volume (+35% YoY) and a new record for customer registrations (almost 10,000!!). Let’s dive into the report!
Note: Cancelled bookings are not included in our reports.
Room-Nights Booked
A total of 1,202 room-nights were booked through the LockTrip.com marketplace in September, marking a 33% increase over the same month last year.
Booking Volume (EUR)
Looking at the volumes for the month, a strong result of 208,000 EUR was recorded, matching the strong performance of room-nights and growing 35% year over year.
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 36% in the month of September, the rate of new user acquisition confirmed the recovery seen in July and August, thanks to the launch of new marketing campaigns.
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.
Core bookings in September continued recovering and grew by 33% over the same month of last year.
Most Booked Countries
The US was the most popular destination by significantly breaching the 100 room-nights mark of previous months. Another very strong performance was seen by the UAE, also surpassing 100 room-nights in a rare occasion. Mediterranean countries started falling back in the ranking, as the summer season comes to an end.
New Referrals
“New Referrals” are defined as users who are assigned to a LockTrip affiliate and verified their email address.
Previously we mentioned a drop in referred users due to newly introduced measures against multi-accounting. As a result, users can no longer refer themselves to get a discount.
Despite this, the referral activity rebounded in July and continued strongly in August and September, mainly due to the launch of marketing campaigns via selected influencers.
New Verified Users
The start of the influencer campaigns contributed to a significant uptick in registrations, making September the strongest month on record, if we discount the outlier that occured in May 2023.
Total Verified Users
As a result, the total number of verified users on the marketplace surpassed 166,000.
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).
318 unique customers made bookings in September, confirming the recovery seen last month. The recent measures against multi-accounting have a dampening impact on this metric, as they eliminate double-counting from previous “hopping” behaviour.
Year over year, the number of unique paying users increased by 36%.
Total Unique Paying Users
Looking at the broader picture, we surpassed 5,800 unique paying users on the marketplace for the first time!
LOC Burns
The total number of burnt LOC reached almost 323,000 by the end of September. In addition, roughly 23,000 LOC were waiting to be burnt once the customers check into their hotels. Thus reaching a combined 346,000 LOC!
On top of that, the restructuring of the LOC economy resulted in an additional burn of 6,347,106 LOC, which was achieved thanks to the combined efforts of the LockTrip community, team and the company.
That’s it for the month! The next report is scheduled for November.
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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. Use your LOC token on the marketplace to secure an additional 5% discount!
