LockTrip Reports a Record $270,000 in Bookings for Q4 2022!
News from the LOC Coin Development team on February 25, 2023
In the fourth quarter of 2022, a record 1,952 room-nights were booked through the LockTrip.com marketplace. This represents a 12% increase year over year. The total volume of bookings reached a record $271,000 — up 10% 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.
The top 10 nationalities booking with LockTrip were:
Bosnia and Herzegovina
The above map shows the geographical distribution of the booked destinations. A record 72 countries were booked by LockTrip customers, spread across 6 continents. The most popular country was the UK, accounting for almost 9% of all bookings!
Looking at the continental distribution, Africa and South America both managed to double their shares to 6% and 7.5% respectively.
This came mainly at the expense of North America and Oceania. Europe and Asia maintained their shares of the pie.
Crypto payments accounted for 5.3% of all bookings. However, they contributed 6.0% 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 $420 for the period of Q4, which is a slight increase from the previous quarter. The deviation around this average is large, with the lowest and highest value bookings ranging from $5.07 on the low end up to $6,600 for the booking with the highest value.
Discounts & Pricing
For the past quarter, 69% of bookings made on LockTrip.com had an estimated discount compared to traditional booking sites. The remaining 31% were either not discounted, or there was not suffient data to estimate the discount.
On average, LockTrip.com users realized 19% in estimated savings across all bookings — and 28% considering only bookings with a discount.
Looking Back at 2022
With the last quarter of the year in view, let’s look into some annual statistics to wrap up the report.
The number of total room-nights booked grew by 66% last year, reaching a new high of 7,297.
We observed a similar growth rate in booking volumes, with a 58% year-over-year increase that is propelling us towards the $1,000,000 milestone.
As a result of increased activity, we are pleased to share that our customers booked and journeyed to 90 countries around the world! An increase of 16 countries when compared to 2022!
At the same time, a total of 923 destinations were booked through the marketplace, marking an increase of 282 destinations compared to the previous year!
Outlook for 2023
In the first two months of 2023 we already saw a significant uptick in booking activity, thanks to the continuous improvements to the marketplace as well as the launch of several marketing campaigns.
We expect growth to remain strong in 2023, starting with a record first quarter across all metrics.
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.