LockTrip Reports a 78% Increase in Booking Volumes for July 2024
Welcome to LockTrip’s booking report for July 2024! Last month was a strong one, showing good results for metrics such as the booking volume (+78% YoY) and the number of core bookings (+27% YoY). Let’s dive into the report!
Note: Cancelled bookings are not included in our reports.
Room-Nights Booked
A total of 966 room-nights were booked through the LockTrip.com marketplace in July, marking a 28% increase over the same month last year.
Booking Volume (EUR)
Looking at the volumes for the month, a strong result of 192,000 EUR was recorded, surpassing the performance of room-nights thanks to a higher average booking value. Year over year, volumes grew by 78%.
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 39% for the month of July, the rate of new user acquisition returned to a strong level, 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 July performed at a similar level to the previous months, and grew by 27% over the same month of last year.
Most Booked Countries
The US was the most popular destination by reaching almost 100 room-nights. However, all of the remaining positions in the top 10 were taken by European countries. Mediterranean countries made up more than half of the ranking as the summer season continues to draw travelers towards the coast.
New Referrals
“New Referrals” are defined as users who are assigned to a LockTrip affiliate and verified their email address.
In our previous report we mentioned a drop in newly referred users due to the implementation of 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, mainly due to the launch of marketing campaigns via selected influencers.
New Verified Users
The start of the influencer campaigns contributed to an uptick in registrations, marking July the second strongest month on record.
Total Verified Users
As a result, the total number of verified users on the marketplace reached almost 149,000.
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).
265 unique customers made bookings in July, which is roughly the same number recorded in June. The recent measures against multi-accounting have a dampening impact on this metric, as they eliminate double-counting from previous “hopping” behaviour.
Total Unique Paying Users
Looking at the broader picture, we surpassed 5,400 unique paying users on the marketplace for the first time!
LOC Burns
The total number of burnt LOC reached 266,000 by the end of July. In addition to that, more than 25,000 LOC were waiting to be burnt once the customers check into their hotels. Thus surpassing a combined 291,000 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 September.
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