LockTrip Reports a 41% Increase in Booking Volumes for October 2024
Welcome to LockTrip’s booking report for October 2024! Last month was a strong one, breaking new records for metrics such as the booking volume (+41% YoY) and the number of unique paying users (+41%). Let’s dive into the report!
Note: Cancelled bookings are not included in our reports.
Room-Nights Booked
A total of 1,715 room-nights were booked through the LockTrip.com marketplace in October, marking a 29% increase over the same month last year.
Booking Volume (EUR)
Looking at the volumes for the month, a new record of 291,000 EUR was achieved, resulting in a growth rate of 41% 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 41% in the month of October, the rate of new user acquisition confirmed the recovery seen since July, 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 October jumped sharply to reach a new record high, growing by 43% over the same period of last year.
Most Booked Countries
The US was the most popular destination by significantly breaching the 100 room-nights threshold set in previous months. Another very strong performance was seen by the UAE, also surpassing 100 room-nights in a rare occasion. Mediterranean countries saw a slight comeback, making up 5 out of the top 10 countries, as travellers were capturing the last opportunities of the season.
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 retained its strenth since then, 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 October the second 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 175,000.
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).
449 unique customers made bookings in October, marking a new record for the marketplace. This was achieved despite the recent measures against multi-accounting that had 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 41%.
Total Unique Paying Users
Looking at the broader picture, we surpassed 6,000 unique paying users on the marketplace for the first time!
That’s it for the month! The next report is scheduled for December.
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