LockTrip Q1 2020 Bookings Report

In the first quarter of 2020 the total number of bookings from our hotel section was 93, which is a 26% increase over the previous quarter, with a combined volume of 22,300€ (+20%).

Unfortunately we had a higher than usual cancellation rate due to the corona-virus, as 21 bookings were cancelled. In comparison, we only had 2 cancellations in the previous quarter.

Throughout the quarter we have managed to refund 100% of the bookings that were cancelled (and which had an outcome within the quarter). This also includes bookings that were booked without the option of cancellation. To arrive at this achievement, we have taken the time to negotiate with our partners for each of the bookings individually.

A frequently asked question is what payment methods are used to make bookings on our marketplace. Let’s shed some light on that topic based on the data from the first quarter.

Fiat payments are dominating the landscape, even though we have not started marketing yet. We expect this category to remain strong in the future, especially when unlocking new audiences through marketing campaigns. LOC also showed a strong performance this quarter, growing its share by 3%. A final mention on Ethereum, which basically came out of nowhere and finished on par with LOC.

Crypto payments excluding LOC made up 24.8% of the total pie, which is a strong improvement over the 5.4% of the previous quarter.

Moving on to the booking value distribution, we have visualized all bookings of the quarter in a compact graphic. Each bubble represents a booking with its size matching the value.

The key take-away from this graphic is that bookings are distributed healthily across all price classes, which confirms that our inventory appeals to all types of bookings and offers savings to all customer segments.

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LockTrip is a blockchain-based travel marketplace that allows users to save on average 20% on their bookings by cutting out middlemen. Every booking burns LOC proportionally to its booking value, continuously reducing its total supply.

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