Travala.com Quarterly Business Update: Q2 2024
Maintaining High Altitude: A Successive Record-breaking Quarter
From the CEO’s Desk
Steady platform growth and relatively stable market conditions in Q2 resulted in a successive record-breaking quarter, with total gross revenue reaching $23.6 million. This represents a year-on-year increase of 49% on Q2 2023. Hotels continue to be our strongest-performing vertical, with over 35,000 room nights sold in Q2, followed by flights, with almost 18,000 flights booked in the period—both new quarterly records.
The completion of the Bitcoin halving in April marked another momentous occasion for the industry as we continued to capitalise on the magnitude of this event. Bitcoin givebacks for travel bookings were expanded to Platinum members of the AVA Smart Program, enabling members to receive up to 5% of their bookings back in Bitcoin, in addition to discounts of up to 5%.
On the partnership front, we have a major upcoming announcement with a household name in travel that is recognised throughout the globe. We also added over 10 new tokens as payment options this quarter and expanded our support for existing tokens on additional blockchains, most notably for USDT, our top payment option. Our luxury Concierge service joined the Anantara Journeys Programme, which provides enhanced travel perks for Concierge clients, and we’re also continuing to partner with top web3 events to expand our visibility in these valuable communities.
Web3 communities remain our most valuable audience, and with a record 83% of bookings paid with cryptocurrencies in June, we’re working on new web3 user acquisition strategies and marketing activities to accelerate our user base and propel our reach to this audience forward. Paired with our brand refresh project that will start rolling out later this year, these initiatives will further set us apart and cement Travala.com as the leading web3 travel platform.
We remain dedicated to innovating and pushing the boundaries of what is possible in travel when combined with web3 tech. By continuing to deliver an unparalleled customer experience while expediting our objective to onboard new customers to Travala.com, we’re firmly setting our sights on even greater user and booking growth for the second half of 2024.
Juan Otero, Chief Executive Officer
Bookings & Revenue Update
We’ve built upon our record-breaking quarter in Q1 2024 by posting 5.7% higher gross revenue in Q2 2024, our best quarterly result to date. Another room night and flight record was also set; room nights booked were up by 5.8% compared to Q1 2024, while flight bookings were up an impressive 11.4%. Year-on-year, room night bookings have increased by 43.9%, flight bookings by 54.3%, and activities by 79.0%.
Q2 2024 Summary:
- April gross revenue: $8,049,866
- May gross revenue: $7,623,037
- June gross revenue: $8,021,483
Total Q2 gross revenue: $23,694,386
- Gross revenue and bookings by vertical:
- Hotels: $13,319,615 (35,564 room nights; 56.21%)
- Flights: $10,292,841 (17,972 flights; 43.44%)
- Activities: $81,930 (350 activities; 0.35%)
- Total AVA givebacks: 363,688 AVA (approx. $254,296)
- Total BTC givebacks: 0.37885011 BTC (approx. $24,061)
Product Update
The development team has been working at full throttle in the last quarter on new features and initiatives that went live in Q2. Several other projects have kicked off that are expected to go live later this quarter, including the reintroduction of the Invite Program, introduction of a new giveback reward option, and web3 login options.
What’s New
- Integrated the option for Platinum members to receive up to 5% of their booking back in Bitcoin
- Facilitated the infrastructure for the Travel Tiger mint offerings
- Started the rollout to significantly improve the loading speed of flight search results
- Introduced the ‘save passenger details’ feature to streamline future travel bookings
Coming Up
- Introduction of a new giveback reward option
- Reintroduction of the Invite Program
- New web3 sign-up and sign-in options
- Integrations with new metasearch engines
- Redesigned UX for payment methods
- Simplified UX for using Travel Credits and Promo Credits
- Significant improvement in the hotels inventory with the addition of pay-at-hotel properties
- Travala brand refresh project
- AVA deals implementation
- Dtravel homes integration
- Exploration of ancillary travel products
Marketing & Community Update
Q2 saw a strong focus on all things Bitcoin as we joined in on the hype of the Bitcoin halving, with giveaway campaigns and features bringing the king of crypto to the forefront. An exciting period awaits as we double down on our web3 marketing efforts to expand our reach to even more crypto-native users and introduce new web3 initiatives.
What’s New
- Celebrated the Bitcoin halving with a promotion that saw 20 winners win half their booking back in Travel Credits
- Introduction of Bitcoin givebacks for Platinum members
- Travel Tiger NFT & 5,000 AVA Giveaway
- Completed the Travel Tiger NFT mint campaign with the AVA Foundation
- Welcomed the start of summer with the 3-day Summer Flash Sale that generated impressive sales and sign-ups
- Launched our first TaskOn campaign, amassing over 3,300 participants
Coming Up
- Major announcement with household name in travel
- New marketing and community initiatives utilising web3 platforms
- Technical and content strategy targeting crypto and web3 users
- Brand refresh project, including redesigned website, logo and brand story
Partnerships Update
Another significant quarter for partnerships, we added over 10 new tokens and expanded support for existing tokens on additional networks—in particular, our top payment option, USDT. We’re continuing to partner with web3 events and exploring various strategies to increase our exposure at these events with high-intent audiences.
What’s New
- Added the following payment options on Travala.com:
- BEFI, NEVER, CSWAP, NETVR, ARB, USDT (Arbitrum), APT, ATOM, USDT (BEP20), BEL (BEP20), ARPA (BEP20), ALGO, USDT (Algorand), USDC (Algorand), PONKE, TON, USDT (TON), BRETT
- Our Concierge service joined the Anantara Journeys Programme
- Travala.com was named a travel partner of Lugano’s Plan ₿ Forum 2024
Coming Up:
- Tapping into the web3 community via partnerships
- Expanding the range of payment options available on Travala.com
- Amplifying reach via partnerships and integrations with travel companies
- Partnering with premier crypto events to enhance Travala.com’s visibility
Upcoming Crypto & Travel Events
See what crypto and travel events are coming up in our latest Upcoming Events article.
AVA Smart Program
Contributor Tasks
The Contributor Tasks for Smart members are live until 16 July! To receive your AVA Smart Bonus (ALL Smart members excluding Smart Basic) and Ambassador Bonus (Diamond members only), simply complete the Contributor Tasks by this date and claim your bonus(es) during the Claim Period from 23 July – 6 August.
Complete the Contributor Tasks via Gleam using your Travala.com account email HERE.
Remember, if you spent a minimum of US$50 worth of AVA on Travala.com within the previous quarter (1 April – 30 June 2024) on completed travel bookings, Travel Credit purchases, or Travel Gift Cards, you’ll automatically be able to claim the AVA Smart Bonus during the Claim Period without completing the Contributor Tasks.
To claim the Ambassador Bonus, you MUST complete the Contributor Tasks. More info.
Travel Drop
The 9th Travel Tiger Club Drop saw one lucky Smart Diamond member win a luxury tropical holiday package to Bali for two!
The lucky winner and their guest will enjoy a week-long holiday in one of the relaxation capitals of the world, complete with daily à la carte breakfasts, a Balinese massage, an intimate 5-course dinner, and a specially prepared in-villa picnic. The package also includes free-to-join daily activities, including yoga, painting classes, moonlight cinema, village walks, and more.
All active Smart Diamond members are automatically entered into each Travel Drop draw. The next Travel Drop will be drawn in August. Upgrade your Smart membership today for your chance to win! Learn more about Smart Diamond membership perks.
New Smart Member Features
Bitcoin givebacks were added for Smart Platinum members, with up to 5% back in Bitcoin available on every booking. Platinum members can choose between Bitcoin and AVA rewards in the AVA Smart Program section of their account settings.
Airdrops of early-stage partner projects were added for Smart members. Diamond members receive guaranteed participation in all airdrops, with all other Smart tiers receiving the chance to participate, depending on each airdrop. Since launching in April, the SNSY airdrop and CTOK airdrop have been completed, with more airdrops on the way.
Additional travel drops exclusive to Diamond members who hold Founders Edition Travel Tiger NFTs will be introduced later this year. More details will be announced.
Merch pack giveaways exclusive to Diamond members who hold Founders Edition Travel Tiger NFTs will be introduced following the launch of the brand refresh. More details will be announced.
What’s Next
Thank you for reading our Q2 2024 Quarterly Business Update. Stay updated on our channels to hear about the latest news, and be sure to tune in to our socials for the announcement of the next travel drop for Smart Diamond members!
If you have any questions or feedback, please reach out to us on the official Travala.com Telegram channel.
About Travala.com
Founded in 2017, Travala.com is the leading crypto-native travel booking service with 2,200,000+ properties in 230 countries, 400,000+ activities, and 600+ airlines globally. Travala.com is a champion of cryptocurrency adoption, accepting over 100 leading cryptocurrencies alongside traditional payment methods. In addition to unbeatable prices via its Best Price Guarantee, Smart members on Travala.com can also enjoy additional discounts and loyalty rewards for eligible bookings made on the platform. For more information about Travala.com, visit: www.travala.com.
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