Travala.com Quarterly Business Update: Q3 2024
Breaking Barriers: Three Quarters of Unprecedented Growth
From the CEO’s Desk
For the third consecutive quarter, we’ve surpassed the previous quarter’s results, setting a new record for quarterly gross revenue of $27.7 million. This represents an almost 17% increase over Q2 2024, and an 86% year-on-year increase over Q3 2023.
Our biggest accomplishment in Q3 was the integration of our entire property inventory on leading global travel marketplace Skyscanner, with Travala now discoverable on the Skyscanner platform as of the beginning of September. Skyscanner’s 110 million monthly users complete 80 billion searches every day, which will help increase visibility while signalling the growing rise of web3 in travel.
Travala’s widespread integration with Solana was also announced at Solana Breakpoint, which involves us supporting and building on the fourth-largest blockchain to a significantly greater extent. We’ve already added SOL to the account wallet—alongside support for popular stablecoins on the Solana network—to enable zero-fee transactions in these tokens. The AVA token was also deployed by the AVA Foundation on the Solana network following a community vote, providing greater interoperability and low-cost transactions.
Across the business, we have a strengthened focus on harnessing web3 technology wherever possible. We’re therefore working on initiatives like web3 sign-up/sign-in options and web3 payment improvements in the product department, while the marketing department is leveraging web3 quest platforms like Galxe and TaskOn for user acquisition and community building purposes. This strategy seeks to build on our predominantly web3 customer base, where over 80% of travellers opt to pay with cryptocurrencies.
During Q3, we managed to surpass our total gross revenue for all of 2023 ($59 million) by already recording $73.8 million in the first nine months of this year. This continued performance is a testament to the growing place of web3 technology in the world as the industry continues to mature, innovate, and collaborate with household names. We’re determined to maintain this performance as we see out the remainder of 2024, with many more initiatives in the pipeline across product, marketing, and partnerships before the end of the year.
Juan Otero, Chief Executive Officer
Bookings & Revenue Update
Q3 continued the record-breaking trend of the previous two quarters, setting a third successive quarterly record on all fronts. Total Q3 gross revenue was 16.94% higher than Q2 2024 and 86.0% higher year-on-year (YoY). By vertical, the number of room nights booked increased by 6.19% on Q2 2024 and 56.76% YoY. The number of flights booked grew by 10.06% in comparison to Q2 2024 and 73.55% YoY.
The steady booking growth over the last quarter in comparison to the previous quarter—despite little significant movement in the overall crypto market in Q3—has been a positive indicator that travellers are continuing to book with crypto in greater numbers.
Q3 2024 Summary:
- July gross revenue: $9,362,034
- August gross revenue: $8,993,744
- September gross revenue: $9,352,072
- Total Q3 gross revenue: $27,707,850
- Gross revenue and bookings by vertical:
- Hotels: $14,971,379 (37,766 room nights; 54.03%)
- Flights: $12,661,742 (19,781 flights; 45.70%)
- Activities: $74,729 (316 activities; 0.27%)
- Total AVA givebacks: 562,874 AVA (approx. $307,012)
- Total BTC givebacks: 0.78439754 BTC (approx. $46,614)
- Total Travel Credit givebacks: 6,057 Travel Credits ($6,057)
- Total Q3 givebacks: approx. $359,683
Product Update
Q3 saw several key product initiatives launched that serve to increase Travala’s discoverability, expand the user base, and offer greater choice for travellers. The product pipeline contains many projects across the entire ecosystem, from hotel and flight improvements to new Smart membership features and new ways to access your Travala account.
What’s New
- Integrated our property inventory of 2,200,000+ properties with Skyscanner
- Introduced Travel Credit givebacks, with up to 10% back available for Smart Diamond members and up to 5% for Platinum members. Read more
- Added ETH and SOL to the account wallet, enabling zero-fee transactions when deposited
- Reintroduced the Invite Program with Travel Credit rewards. INVITE NOW
- Display flight fares for nearby dates to easily compare prices
Coming Up
- New web3 sign-up and sign-in options
- SOL giveback rewards
- 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
- Implement a Smart trial membership for new users
- Expanded information for rooms (e.g. room size, room view, bed configuration)
- Additional sign-in and sign-up options with biometrics, passkey, and email sign up with OTP
- Add one-click Smart membership activation with credit card to purchase and automatically lock AVA)
- Travala brand refresh project
- AVA deals implementation
- Dtravel homes integration
- Exploration of ancillary travel products
Marketing & Community Update
A significant quarter filled with notable announcements, Q3 saw plenty of coverage for Travala across top media publications, thanks to our integrations with Skyscanner and Solana. The team also has a strengthened focus on both web3 and web2 initiatives in the pipeline that aim to introduce new users to the Travala platform and bring value to the ecosystem.
What’s New
- Announced Skyscanner integration, with featured coverage on Cointelegraph, The Block, Bitcoin.com, and more
- Announced Solana integration, with featured coverage on The Block, Cointelegraph, Bitcoin.com, and more
- Announced collaboration with Galxe. Read more
- Launched first Travala Galxe Quest with $10,000 in prizes, LIVE until 23 October 2024. JOIN NOW
- Teamed up with Binance Pay to offer up to a BONUS 10% back in rewards for travel to Binance Blockchain Week Dubai 2024. BOOK NOW
- Completed TaskOn campaign to celebrate TaskOn’s 2nd birthday with over 6,000 participants
Coming Up
- Further expansion into web3 quest platforms to introduce new users
- New marketing and community initiatives utilising other web3 platforms
- Technical and content strategy targeting crypto and web3 users
- Brand refresh project, including redesigned website, logo and brand story
Partnerships Update
We continue to broaden our network with web3 and traditional partners to deliver the widest range of choice and value for web3 users. In Q3, we added several new tokens as payment options on Travala.com, in addition to the expansion on the Solana network for popular stablecoins. We also partnered with leading web3 events and luxury travel programs to drive further value to our luxury Concierge service.
What’s New
- Added the following payment options on Travala.com:
- LNQ, MEW, NEIRO, USDT (SOL)
- Our CEO, Juan Otero, unveiled the Solana integration at Solana Breakpoint 2024
- Partnered with Redacted Airways to sponsor the world’s first in-flight event carrying web3 personalities to TOKEN2049 Singapore. Read more
- Travala.com’s luxury Concierge service joined the IHG Luxury & Lifestyle Program and Pan Pacific Reserve. Read more
- Travala.com was named the Official Travel Partner of Coinfest Asia 2024. Read more
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 15 October! 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 22 October – 5 November.
Complete the Contributor Tasks via Gleam using your Travala.com account email HERE.
NOTE: Remember, if you spent a minimum of US$50 worth of AVA on Travala.com within the previous quarter (1 July – 30 September 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.
WIN New Merch Packs & Travel Credits
WIN brand new Travala Merch Packs and Travel Credits by completing additional Daily Bonus Tasks, starting this round! Daily Bonus Tasks will go live on select weekdays (look for them on Twitter, Telegram or Discord), with your entries accumulating over each round. Travel Credit winners will be drawn each round and Travala Merch Pack winners will be drawn once the new branding is unveiled, so be sure to complete as many Bonus Tasks and Daily Bonus Tasks as you can in each round to boost your odds!
To claim the Ambassador Bonus, you MUST complete the Contributor Tasks. More info.
Travel Drop
The 10th Travel Tiger Club Drop saw one lucky Smart Diamond member win a Luxury NBA Fan Trip for two!
The lucky winner and one guest won a package to spend 4 thrilling nights in Abu Dhabi, taking in all the excitement of the NBA preseason live with an MVP package each. The package included lower level seats to the Boston Celtics vs. Denver Nuggets game, pre-game and halftime NBA Experiences Lounge access, 1-day admission to the NBA District, official NBA game merchandise to remember the experience by, and more.
All active Smart Diamond members are automatically entered into each Travel Drop draw. The next Travel Drop will be drawn in November. Upgrade your Smart membership today for your chance to win! Learn more about Smart Diamond membership perks.
New Smart Member Features
SOL giveback rewards are coming soon to the AVA Smart Program, with up to 10% back in SOL rewards on bookings. SOL will join as a giveback option alongside AVA, BTC and Travel Credits.
The new feature was announced at Solana Breakpoint as part of the widespread integration of the Travala.com and AVA ecosystems with the Solana network. Read more
What’s Next
Thank you for reading our Q3 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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