DreamFolks: Is the upswing in air travel the wind beneath its wings?
₹72 crore, on the back of a 2.7 times increase in revenue to ₹773 crore. Revenue in the first three quarters of the current financial year has risen 59.5%. Operating with an asset-light strategy, DreamFolks dominates India's airport service sector, capturing 75% of the domestic airport lounge market.
It's the go-to partner for banks looking to offer lounge access to their credit cardholders. DreamFolks sees a bright future, driven by rising domestic flights, digital payment adoption, and the increasing demand for lounge services. Motilal Oswal Securities says the lounge access market in India is still in its nascent stage with large, structural growth ahead.
Passengers are increasingly willing to spend on enhanced services at airports, it believes. The total number of people visiting lounges is expected grow 15 times by 2030 (40% CAGR) and at the same time, the Indian lounge market is expected to grow at an exponential 17 times by 2030 (42% CAGR). DreamFolks will be the direct beneficiary of the strong growth in the lounge market going ahead," the domestic brokerage said in a recent report.
The company recently launched an exclusive membership programme, The DreamFolks Club, offering tailored, premium travel and lifestyle services catering to diverse budgets. Services include complimentary global lounge access, golf, meet and assist, airport transfer, travel visa, beauty and grooming, healthcare, floral gifting, and more. It plans to leverage its almost a year-old acquisition of golf courses operator Golfklik (known as Vidsur Golf at the time of buyout) to present golf services as a premium segment offering to its clients.
Read more on livemint.com
