LockTrip Reports a 47% Increase in Booking Volumes for November 2024
Welcome to LockTrip’s booking report for November 2024! Last month was a strong one, posting notable results for key metrics such as the booking volume (+47% YoY) and room-nights booked (+36%). Let’s dive into the report!
Note: Cancelled bookings are not included in our reports.
Room-Nights Booked
A total of 1,511 room-nights were booked through the LockTrip.com marketplace in November, marking a 36% increase over the same month last year.
Booking Volume (EUR)
Looking at the volumes for the month, a new high of 255,000 EUR was achieved, resulting in a growth rate of 47% 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 42% in the month of November, the rate of new user acquisition continued 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 November continued on a strong trajectory, growing by 12% over the same period of last year.
Most Booked Countries
Malta saw an outlier performance due to several large bookings made in bulk.
Excluding this anomaly, the US was the most popular destination by significantly breaching the 100 room-nights threshold. Another strong performance was seen by Spain, also surpassing 100 room-nights in a rare occasion. That being said, Mediterranean countries in general saw a decline due to the winter season. A special mention goes to Argentina, which made a rare appearance by capturing the 6th spot.
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 in the second half of 2024 contributed to a significant uptick in registrations, making November the second strongest month on record, if we discount the outlier that occurred in May 2023.
Total Verified Users
As a result, the total number of verified users on the marketplace surpassed 184,000.
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).
407 unique customers made bookings in November, marking the third best month on record. 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 17%.
Total Unique Paying Users
Looking at the broader picture, we surpassed 6,300 unique paying users on the marketplace for the first time!
That’s it for the month! The next report is scheduled for the end of January.
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