The Good Tech Companies - How Travala.com Skyrocketed to $22 Million in Revenue: Lessons for the Travel Industry

Starting point is 00:00:00 This audio is presented by Hacker Noon, where anyone can learn anything about any technology. How Travala.com Skyrocketed to $22 Million in Revenue. Lessons for the Travel Industry. By Ashan Pandey. Welcome back to our, Behind the Startup, series where we dive into the journeys of innovative companies reshaping industries. Today, we're revisiting Travala.com through a conversation with Juan Otero, who last joined us in May 2020. At that time, Juan forecasted a recovery in the travel sector which largely rang true. As we catch up with him today, we'll learn how Travala.com has navigated the evolving landscape of the travel industry, especially in light of the ongoing shifts towards

Starting point is 00:00:42 digital and decentralized technologies. Join us as Juan shares insights on the company's growth, the integration of Web3 technologies, and how these strategies are positioning Travala.com for future challenges and opportunities in the travel sector. Ashant Pandey. Welcome back, Juan. It's a pleasure to have you in our Behind the Startup series. Last time we spoke in May 2020, you correctly predicted about a recovery starting in Q3, particularly for domestic travel post-COVID-19, with a full recovery including international travel by Q4. As we continue our Behind the Startup series, could you update us on how Travala.com has evolved since Ethan, especially considering the ongoing shifts in the travel

Starting point is 00:01:25 industry. Juan Otero. Thanks Ashan. Great to be speaking with you again. So much has sharpened at Travala.com in the last four years as the travel industry rebounded and the Web3 industry continued to swell. In that time, we've significantly expanded our offering through partnerships with some of the biggest names in travel, including Expedia and Kayak. Our accommodation selection multiplied to over 2.2 million properties, and we introduced flights with 600-plus airlines as well as 410,000-plus activities, with a total of over 3 million travel products now available on Travala.com. Our team has also more than doubled in size to accommodate our growth, with hires across

Starting point is 00:02:05 all departments from the management team to security, developers, marketing, and customer support. All of these developments have culminated in tremendous growth in customers, bookings, and revenue, with our gross revenue growing from less than $1 million in Q1 2020 to over $22 million in Q1 2024. Ashan Pandey. During our last discussion, you highlighted some pivotal adjustments made at Travala.com in response to the pandemic. Looking at the current times, how has your business model or strategy changed to align with the new dynamics of the travel industry? Juan Otero. From the rise of domestic travel to the influx of digital nomads across the globe,

Starting point is 00:02:45 the pandemic has prompted the emergence of many new trends that look likely to continue well into the future. Where we once might have promoted a weekend away, we're now encouraging longer, more immersive experiences through marketing, exclusive mobile-only deals on stays, and by offering an average of 16% savings on hotels after booking a flight. One of the often overlooked developments in recent years has been the rapid emergence of Metasearch engines. With shifting behaviors in how savvy travelers search for, compare, and book travel, we recognized the importance of these Metasearch engines, which have quickly gained market share when it comes to the discovery phase of travel, and became the first crypto friendly online travel agency to be listed on leading Metasearch engines Kayak and Google Hotels,

Starting point is 00:03:29 alongside incumbents in the travel industry. Ashan Pandey. Cryptocurrencies have seen substantial growth in value and popularity since we last talked. How is Travala.com planning to capitalize on this trend? Are there new strategies or technologies you're implementing? Juan Otero. We've honed our Web3 strategy by partnering with projects to promote cross-community growth and leverage the power of highly engaged Web3 audiences. As a result, we now have over 100 cryptocurrency payment options and frequently conduct campaigns with partners to promote the ability to travel with crypto on Travala.com. From leading Web3 events like Token 2049 and Paris Blockchain Week do traditional brands interested in expanding their audience, such as Marriott International and the Catalan Tourist

Starting point is 00:04:16 Board, we're leveraging our position as the bridge between the world of traditional travel and the Web3 space to continue underscoring our reputation as the leading crypto native travel booking service. We've also introduced Bitcoin rewards for Platinum and Diamond members travel and the web3 space to continue underscoring our reputation as the leading crypto native travel booking service we've also introduced bitcoin rewards for platinum and diamond members of the ava smart program the travel rewards program available on travala com in partnership with the ava foundation these two membership groups can receive up to 10 back in bitcoin on bookings made via travala com which can be puttwards future bookings are transferred out of the platform. Ashan Pandey. With rising competition and

Starting point is 00:04:50 shifting consumer behaviors, how does Travala.com intend to differentiate itself in the travel industry? Juan Otero. As consumer behaviors continue evolving and products become increasingly tailored to the millennial and Gen Z audience that now make up the majority of the travel market. The key advantage that we have over more established players in the travel industry is our agility as a team, coupled with our innovation-first approach. We predict that crypto payments will become more commonplace as the Web3 industry continues to mature, to the point where it will no longer be a point of differentiation. Other Web3 elements, and how successfully they can be incorporated into the travel experience,

Starting point is 00:05:33 will therefore be the main area of differentiation for Travala.com. From areas like Web3-oriented loyalty programs to digital collectibles, we're continuously exploring new ways that enhance the experience and make it more rewarding, pushing the boundaries of what travel eyes in today's age. Ashant Pandey. Previously, you mentioned the impact of Bitcoin halving on your operations. Can you expand on how recent cryptocurrency events have influenced Travala Com's market dynamics and user behavior? Juan Otero. The positive market action driven by the Bitcoin halving saw the cryptocurrency reach an all-time high in mid March earlier this year and resulted in our bookings soaring, leading to the strongest quarter in Travala. Coms history. As approximately 75% of our bookings are purchased with crypto, we experience a strong correlation between a crypto bull market and high booking volume on

Starting point is 00:06:20 our platform, given the additional value available for travelers to derive from their crypto assets in dollar-value terms. With the fourth Bitcoin halving now behind us, we expect the crypto market to continue performing well in the next 12-18 months, based on historic trends following previous Bitcoin halving events. Ashant Pandey Finally, considering all the challenges and opportunities that they've emerged, what is your long-term vision for Travala? Calm in this new era of travel and technology? Juan Otero.

Starting point is 00:06:50 We see Travala. Calm as becoming a hub for crypto travelers to create genuine connections with the world, themselves, and each other. Web3 is a community movement, and our community is constantly brimming with discussions about travel tips, destinations to explore, the broader Web3 space, and suggestions for Travala.com. We want Travala.com to be more than just a platform where travelers go to book their travel. In the long term, we envision Travala.com solidifying its position as the world's leading Web3 travel ecosystem, where knowledge, creativity, and of course the

Starting point is 00:07:25 act of travel itself is rewarded. Don't forget to like and share the story. Tip Vested Interest Disclosure. This author is an independent contributor publishing via our business blogging program. Hacker Noon has reviewed the report for quality, but the claims herein belong to the author. Hashtag D Y O R. Thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.

The Good Tech Companies - How Travala.com Skyrocketed to $22 Million in Revenue: Lessons for the Travel Industry

There aren't comments yet for this episode. Click on any sentence in the transcript to leave a comment.