Second quarter revenue increase on the travel booking platform Travala
Binance Travala-backed travel site revenue in the second quarter grew 141% over the previous three months amid a rebound in global travel, the company said in a report.
The London-based company generated $ 9.8 million in revenue from April to June, which is also a huge increase from the $ 274,718 it made in the same period last year when the coronavirus pandemic has kept people at home. In the second quarter report, Travala also attributed this strong performance to âstrategic initiatives, optimizations and partnershipsâ which have broadened its offerings and improved its service.
The second quarter result also signaled wider adoption of the company’s blockchain-based travel booking platform after Travala generated just $ 249,365 in revenue for the second quarter of 2019, one year ago. before the onset of the pandemic. Co-founder and CEO Juan Otero told CoinDesk in an email he is encouraged by the improvement and expects 2021 revenues to be seven to eight times higher than the year. last.
Travala, which accepts over 40 cryptocurrencies, Binance Pay, and fiat payment forms, allows customers to purchase hotel stays, flights, and experiences directly through its platform. According to data from Travala, crypto purchases account for around 70% of the platform’s activity.
âTravala.com has been through rough times,â Otero said in a written response to questions from CoinDesk. âNow we’re starting to see travel bouncing back and all of the hard work we’ve put in is starting to pay off. We are extremely optimistic that travel will return stronger than ever. “
While hotels account for the largest share of Travala’s revenue, it has expanded its flight offerings following a merger with competitor TravelbyBit in May 2020. An existing partnership with tour and activity provider Viator is expected. help Travala increase her income.
Otero said Travala plans to find new partners within the crypto industry and the traditional travel industry as part of broader expansion plans. Travala is also developing a concierge service that will cater to crypto-VIP and corporate clients looking for crypto-paid luxury travel experiences.
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