Summary

LockTrip is positioned as a disruptive force in the travel industry, aiming to provide a cheaper and more transparent booking experience by leveraging blockchain technology and eliminating middleman commissions.

Abstract

LockTrip is an emerging platform in the online travel booking market, which is projected to reach $1,955 billion by 2026. It distinguishes itself by challenging the traditional commission-based model of Online Travel Agencies (OTAs) like Booking.com, Expedia, and Airbnb, which typically charge 10-30% commissions. LockTrip offers over 500,000 property listings and plans to expand to 2 million by the end of July, focusing on cutting out intermediaries to reduce accommodation costs for both property owners and travelers. The platform utilizes blockchain for transparency and functionality, providing a comprehensive travel service that includes booking rooms, apartments, flights, and additional vacation services. LockTrip's marketing strategy emphasizes value for hotel owners and customers, offering a referral program that rewards users with 3% of the booking value for life when they refer new customers. The company also prides itself on its free help center and has demonstrated its commitment to customer satisfaction by issuing full refunds for bookings affected by COVID-19.

Opinions

The author suggests that traditional OTAs like Booking.com, Expedia, and Airbnb charge high commissions and restrict hotel owners from offering lower prices on other platforms.
LockTrip is seen as a positive disruptor in the travel industry, offering a fairer alternative to both property owners and travelers.
The article praises LockTrip's use of blockchain technology for enhancing transparency and functionality in the booking process.
The referral program is highlighted as a smart marketing strategy that incentivizes word-of-mouth promotion and ensures customer loyalty.
The author expresses that LockTrip's commitment to customer service, evidenced by their free help center and full refunds during the COVID-19 pandemic, sets them apart from competitors.
There is an acknowledgment that while LockTrip generally offers lower prices, there may be instances where it is slightly more expensive than other OTAs.
The author endorses LockTrip, reassuring readers that their recommendation is based on genuine value and satisfaction, not just personal gain from the affiliate program.

Still Using Booking.Com?

A game-changer in the travel industry has arrived to make your travel experience better and cheaper.

Greek island Ios. Photo from the author.

Hint: If you read it until the end you can make some money in an easy way.

Everybody knows booking.com and has used it. But few people know what is going on behind the scenes. The online booking industry was evaluated to nearly 765 billion USD in 2017 and is estimated to reach 1,955 billion USD by 2026.

That is a lot of money. Who is getting the most of them? One of the biggest players is Booking.com, Expedia.com, and Airbnb.com. These companies are OTA, that stands for Online Travel Agencies. They give to hotel owners the ability to list their properties and to the users the ability to book an accommodation 24/7. But….

Did you know that they charge a commission between 10–30% of the price listed on their sites?

Did you know that they treat hotel owners as hostages? They do not allow them to list their hotels in other sites with reduced prices.

Did you had a problem with one booking and made a call to find the solution and was charged a lot of money for the call (help)?

Good for you, I have great news. A new company is coming to the industry to change things to better. Locktrip.com is a new platform that is already functional with over 500,000 properties listed. Until the end of July of this year, they will add more properties ending up with 2,000,000 in the inventory.

Their vision is to cut the middleman and reduce the price of accommodation. That is beneficial for the owners and for you and me, the clients.

Locktrip.com use blockchain technology for transparency and functionality. They will give the clients a one-stop place for all the necessary things for their travel. From booking a room or apartment to flight tickets, and extra vacation services form local agencies.

Booking.com spends an astonishing amount of money on advertising. What do I mean saying astonish? Google got approximately 1 Billion dollars for advertising Booking in the last quarter of 2018 according to CNBC. That is how they try to stay on top of OTA.

Locktrip takes another way to build his brand. They give value to the hotel owners because they don’t need to pay a commission. That is nice, right?

But here comes the best. What is the best way to build your brand? To have satisfied clients, who tell it to their friends. But it would be even better if they get a small reward for doing that. Right?

Yes, as I have learned from August Birch, you should give value before you ask for a return. That’s the right way to do promotion and business overall, and that is what Locktrip is doing.

Here is the deal. If you refer your friends to the marketplace, and they make a booking, you get 3% of the value. And the best is that it will be so forever. Whenever somebody you have referred will travel you get a nice THANK YOU from LockTrip. Not bad,e?

Furthermore, they have a help center, where you can get a solution to any problem that concerns your booking. Without a charge, period!

I have made my research and it is true that you can find reduced prices until 20%, compared to the other OTA. That depends on the location you are looking for accommodation. I even find good rooms 60% cheaper. Telling the truth and only the truth, in some cases in my investigation for the best price, Locktrip was slightly more expensive.

Last but not least, they have done 100% refunding, from all bookings that were canceled because of COVID-19. Great job!

Take your time and have a look at the Locktrip marketplace. (affiliate)

Locktrip.com (Not an affiliate, same price, I get nothing)

Locktrip.com (Affiliate, same price, I get a coffee. Thanks!)

If you liked what you read, Stay in touch.

P.S.: I would never tell you to go to eat in a restaurant where the food sucks so that I just have a cup of coffee for free.