Providing convenient access to travel and lodgings is a complex business model. The coronavirus pandemic has triggered significant operational losses for this industry. Travala is an exception, as July 2020 has been the best month to date for this service provider.
A Strong July 2020
Most people wouldn’t expect any real growth for platforms providing access to hotels and flights. The coronavirus pandemic has ensured that traveling is ill-advised. Even though most countries lessened restrictions a month or two ago, those changes have been reversed again, for the most part. This pandemic is far from over, as the number of infections continues to accelerate worldwide.
As the travel industry begins to collapse slowly, Travala is noting very solid growth. The cryptocurrency-oriented firm has noted a strong uptick in flights and hotel bookings. An interesting development, given the current global conditions. One would expect fewer people to travel. On the other hand, many people have been cooped up at home for months now. It is only normal that they want to get away from home for a while.
Looking at the report, the growth can be noted across all core segments. Firstly, nights booked are up by 100% month-over-month. Second, overall values of night booking increased to $183, yielding a near 10% increase compared to June. Comparing the figures to July 2019, Travala notes a strong 286% revenue growth. In conclusion, this further confirms how this platform is effectively providing a valuable service to cryptocurrency users.
Comparing the statistics to May 2020, there is a clear 360% increase in the number of room nights booked. Given the current coronavirus pandemic, all of these statistics are somewhat surprising. Moreover, it is great news for the cryptocurrency industry as a whole.
Continuing this rate of growth will be a key challenge. As travel restrictions continue to be imposed globally, services like these may see some disruption down the line. Therefore, it is crucial to keep actively spreading the word about this service.
Attracting a Global Audience
Delving deeper into the statistics, it becomes apparent that Travala is very popular in the United States and Europe. Most of the visitors by country come from the US, followed by Germany, and the UK. Other European countries on the list include the Netherlands, France, and Spain.
One interesting region is Vietnam. Gaining a foothold in Asia is always challenging for crypto-oriented platforms. Travala seems to offer the people over there want, which is worth keeping an eye on.
Going over the countries where people travel to, there are no real surprises on the list. As a result, 6 of the 7 previously mentioned are represented on this list. The only difference is how Canada is attracting visitors, instead of Vietnam.
Bitcoin Remains the top Crypto
Accepting payments through various cryptocurrencies is a smart decision. For Travala users, it means that there are many different options to explore. Bitcoin remains the primary cryptocurrency used on the platform in July. It represents 20% of all payments and transactions performed through the platform.
Travala’s native AVA token is climbing the rankings as of late. It now represents 16% of all platform transactions, just ahead of Crypto.com pay with 15%. What is surprising is how Ethereum only provides 4% of bookings payments, followed by USDT at 2%. Credit cards and pay at property remain the most popular options, which is only to be expected.