LockTrip Reports a Record $500,000 in Bookings for Q1 2023!
In the first quarter of 2023, a record 3,979 room-nights were booked through the LockTrip.com marketplace. This represents a 122% increase year over year. The total volume of bookings reached a record $502,000 — up 111% over the same period in the previous year.
In the chart below, you will see the amount of room-nights booked in the trailing twelve months period (TTM) for each quarter.
The top 10 countries bookings were made from were:
- Croatia
- Serbia
- Germany
- Bulgaria
- UK
- Spain
- USA
- Netherlands
- France
- Austria
Geographical Distribution
The above map shows the geographical distribution of the booked destinations. A record 84 countries were booked by LockTrip customers, spread across 6 continents. The most popular country was Mexico, accounting for 10% of all bookings!
Looking at the continental distribution, the biggest winner was North America, more than doublings its share from 6.4% to 15.6%, thanks to the strong performance of Mexico. Asia also performed well, managing to grow from 16.1% to 23.7%.
This came mainly at the expense of Europe, resulting in a drop from 63.5% to 54.4%.
Payment Methods
Regular crypto payments accounted for 2.6% of all bookings, however, they contributed 3.7% in terms of volumes, thanks to a higher average value compared to credit card bookings.
The newly introduced Hydra-Native payments, which include LOC, HYDRA, CHANGE and GOMT accounted for 0.8% of the total. However it is important to note that the feature went live on March 15. Considering only the period from March 15 to March 31, the share amounts to 2.7%.
Distribution of Booking Values
In the graphic below, each bubble represents an individual booking.
The average booking value was $402, which is a slight decrease from the $440 in the previous quarter. The deviation around this average is large, with the lowest and highest value bookings ranging from $3.04 on the low end up to $8,000 for the booking with the highest value.
Discounts & Pricing
In the past quarter, 72% of bookings made on LockTrip.com had an estimated discount compared to traditional booking sites. The remaining 28% were either not discounted, or there was not suffient data to estimate the discount.
On average, LockTrip.com users realized 21% in estimated savings across all bookings — and 29% considering only bookings with a discount.
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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.
