LockTrip Reports a Record $250,000 in Bookings for Q3 2022!

In the third quarter of 2022, a record 1,849 room-nights were booked through the LockTrip.com marketplace. This represents a 9% increase year over year. The total volume of bookings reached $253,000 — up 17% over the same period last year.

In the chart below, you will see the amount of room-nights booked in the trailing twelve months period (TTM) for each quarter.

Geographical Distribution

The above map shows the geographical distribution of the booked destinations. A record 67 countries were booked by LockTrip customers, spread across 6 continents. The most popular country was the USA, accounting for almost 9% of all bookings!

Looking at the continental distribution, the regions of South America, North America, Asia and Africa all saw their shares of the pie increase!

This came mainly at the expense of Europe, which saw it’s share shrink to 64%, down from 76.6% in the previous quarter.

Payment Methods

Crypto payments accounted for 7.2% of all bookings. However, they contributed 7.5% in terms of volumes, thanks to a slightly higher average value compared to credit card bookings.

Distribution of Booking Values

In the graphic below, each circle represents an individual booking.

The average booking value was $410 for the period of Q3, which is a slight decrease from the previous quarter. The deviation around this average is large, with the lowest and highest value bookings ranging from $3.81 on the low end up to $4,300 for the booking with the highest value.

Discounts & Pricing

For the past quarter, 58% of bookings made on LockTrip.com had an estimated discount compared to traditional booking sites. The remaining 42% were either not discounted, or there was not suffient data to estimate the discount.

On average, LockTrip.com users realized 15% in estimated savings across all bookings — and 25% considering only bookings with a discount.

Outlook for Q4 2022

The performance of the current quarter has been strong so far, with both October and November scoring record or near-record levels. If December follows this trajectory, we should close the quarter with another all-time high.

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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. Every booking burns LOC proportionally to its booking value, continuously reducing its total supply.