LockTrip Reports a 46% Increase in Booking Volumes for June 2024
Welcome to LockTrip’s booking report for June 2024! Last month was a moderately strong one, showing good results for metrics such as the booking volume (+46% YoY) and the number of core bookings (+13% YoY).
On the other hand, the restructuring process of our marketing campaigns, along with the implementation of stricter measures against multi-accounting, likely impacted bookings from newer users. Let’s dive into the report!
Note: Cancelled bookings are not included in our reports.
Room-Nights Booked
A total of 906 room-nights were booked through the LockTrip.com marketplace in June, marking a rebound from the weaker month of May.
Booking Volume (EUR)
Looking at the volumes for the month, a strong result of 186,000 EUR was recorded, following a similar pattern to the room-nights. Year over year, volumes grew by a notable 46%.
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 30% for the month of June, the rate of new user acquisition remained at the level of the previous months. The lower share is likely attributable to the additional 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.
Core bookings in June performed at a similar level to the previous months, growing by 13% 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 defended its 2nd position by reaching almost 100 room-nights. Looking at the regional breakdowns, half of the top ten countries were Mediterranean ones.
New Referrals
“New Referrals” are defined as users who are assigned to a LockTrip affiliate and verified their email address.
As mentioned in our last report, we expected a drop in newly referred users due to the implementation of measures against multi-accounting. As a result, users can no longer refer themselves for each booking to get a discount.
These measures should primarily 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.
June performed in line with previous months, by reaching more than 4,700 new users.
Total Verified Users
As a result, the total number of verified users on the marketplace surpassed 141,000.
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).
275 unique customers made bookings in June, the same number recorded for May. The measures against multi-accounting have a dampening impact on this metric too, as they eliminate double-counting from previous hopping behaviour.
Total Unique Paying Users
Looking at the broader picture, we surpassed 5,200 unique paying users on the marketplace for the first time!
LOC Burns
The total number of burnt LOC reached 239,000 by the end of June. In addition to that, more than 29,000 LOC were waiting to be burnt once the customers check into their hotels. Thus surpassing a combined 268,000 LOC!
That’s it for the month! The next report is scheduled for August.
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