LockTrip Reports Record Bookings with 898% Growth in Q4 2021!
LockTrip is excited to report record numbers across all metrics!
In the fourth quarter of 2021, a record 1,747 room-nights were booked through the LockTrip.com marketplace. This represents a 3% increase compared to the previous quarter and 898% year over year.
The total volume of bookings reached a new record of $247,000 — up 14% compared to the previous quarter and 1,250% year over year.
When putting things into perspective regarding Covid-19, we get a clearer understanding of what these numbers actually mean. Without a doubt, the four-digit growth rates include a lower base effect inherited from Q4 2020.
However, we have also been significantly impacted by the Omicron wave over the past few months, canceling out some of these effects. In order to represent this impact visually, we have marked this quarter in orange.
To give our community an idea about the impact level, we are including a chart for the booking.com visitor traffic over the past 6 months.
Considering the above chart and the factor that the final quarter of the year generally tends to be slightly weaker, we are very pleased to see new records being reached. The numbers indicate a continued growth trajectory despite the challenges, which tunes us highly optimistic for 2022.
Geographical Distribution
The map above shows the geographical distribution of the destinations booked. Due to the Winter season we can see that Southern Europe has a lighter presence in the mix, with the Scandinavic countries experiencing a boost. Trying to catch the northern lights, maybe?
Looking at the continental distribution, we have seen a very dominant position of Europe, capturing 73.5% of all room-nights booked (up from 62.2% in the previous quarter)!
The gains of Europe came mostly at the expense of Asia, which shrank from 19.2% to 11.4%.
Payment Methods
Crypto payments accounted for 7.2% of all bookings. However, they contributed 7.8% in terms of booking volumes, thanks to a 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 $440 for the period of Q4, which is a moderate improvement compared to the previous quarter. The deviation around this average is large, with the lowest and highest value bookings ranging from $11.30 on the low end up to $9,300 for the booking with the highest value.
Discounts & Pricing
For the past quarter, 77% of bookings made on LockTrip.com offered savings compared to traditional booking sites (up from 73% in Q3). The remaining 23% matched publicly available pricing.
On average, LockTrip.com users realized 20% in savings across all bookings — and 26% considering only bookings with a discount.
We are looking with great excitement to the new year of 2022, as new improvements and features are coming to the marketplace. Some of them will be shared in the upcoming January update.
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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.
