Travala, a travel booking platform that accepts more than 100 cryptocurrencies, has announced the launch of a dedicated Bitcoin and Ava reserve.
This move comes as the company celebrates a significant achievement, surpassing $100 million in gross annual revenue.
The company's co-founder and CEO, Juan Otero, revealed this milestone in a 11 December announcement, highlighting the impressive growth from $59.6 million in 2023.
The surge was largely driven by flight and hotel bookings, which Travala enables customers to pay for using a wide range of digital currencies, including Bitcoin and its native Ava (AVA) token.
Travala, established in 2017, has consistently leveraged blockchain technology to transform the travel booking experience.
Initially operating on the NEO blockchain with its AVA token, Travala switched to the Binance Chain in late 2019, significantly expanding its operational scope.
In 2020, Travala's revenue was approximately $4.4 million, but by 2021, as cryptocurrency markets boomed, the company saw a dramatic 830% increase, reaching $41 million.
While the following years showed some fluctuation—$60.5 million in 2022 and a slight dip to $59.6 million in 2023—the $100 million revenue milestone was secured amid a surge in Bitcoin’s price.
Bitcoin reached an all-time high of over $100,000 on 5 December 2024, contributing to the overall growth of Travala's platform.
The Importance of Bitcoin and Ava Reserves for Travala's Future
As Travala grows, the company is now focusing on building a robust financial foundation through its new Treasury Reserve Plan.
This initiative aims to increase its financial flexibility, ensuring it can handle future needs without relying on the conversion of assets.
Otero explained,
"Treasury funds will be strategically managed; as the crypto ecosystem continues to mature, our hope is that we will be able to directly use our crypto reserves when necessary without the need for conversion."
Juan Otero, co-founder and CEO of Travala
The Bitcoin and Ava reserves are expected to play a key role in Travala’s strategy, providing the company with additional resources to fund long-term goals.
However, the company has yet to disclose the exact amount held in its reserve.
Travala has indicated that it may consider adding other cryptocurrencies to its reserve in the future.
This decision will likely depend on both the company's growth and the broader market dynamics, as Otero noted,
"Introducing other tokens to the treasury may be considered in the future as both the business and market continue to mature."
With this new financial strategy, Travala is ready to expand and innovate further in the blockchain-based travel sector, potentially unlocking new opportunities for its platform and users.
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