In a bid to tap the ambitious Indian travellers, airport services provider Dreamfolks has launched a membership program to offer a wide range of lifestyle and travel related services including airport lounges, meet and assist facilities, airport transfers, pet care among others.
Dreamfolks provides technology to verify whether a credit or debit card owner is eligible for a free access at a lounge, spa, restaurant, or other establishment at an airport. It also checks for authenticity of the credit or debit card when it is used to enable a free access to any service provided at an airport.
“When we started 11 years back, our service portfolio was only lounges. Today we also offer meet and assist, airport transfers, visa at doorstep, e-sim, golf, beauty, healthcare, pet care. We have added different services related to travel and lifestyle. All of these services may not be available on a bank’s credit or debit card. Hence, our membership is to provide a range of services with the choice of the user,” chairperson and managing director Liberatha Kallat said.
Kallat said the company is optimistic about meeting revenue targets in line with expectations for the current financial year on the back of rising demand for air travel in India and rising credit card penetration.
The company earns more than 90% of its revenue from its lounge services and has increased the presence to 62 lounges from 57 earlier with expansion at government-run airports including Bagdogra.
“Airports Authority of India is also upgrading lounges as the airports realize that lounges are a very good source of revenue. Also, earlier lounges were used by business travellers and today they are being used by leisure and family travellers as well. So, the aspiration is growing,” she added.
“As a business to business (B2B) company obviously banks will be our prime customers. We are also focusing on enterprises, corporates who can offer the membership services to their employees to their channel partners or customers,” she said.
The annual cost of membership is within a range of ₹6999 to ₹1,00,000 per annum.
Simultaneously, the company is also working on expanding in South East Asia and has launched operations in Malaysia this year.
“We are working on South East Asia, and the Middle East. That is the focus for us. We have opened an office in Singapore as well. Dubai is also upcoming,” she added.
Dreamfolks’ clients include Rupay, Mastercard, Diners Club, ICICI Bank, HDFC Bank, AirAsia and IndiGo.
Dreamfolks also forayed into the railways sector in 2022 and currently provides lounge access at 13 railway stations from 10 stations in early 2023.
As per a Frost and Sullivan report, the tally of airport lounges in India is set to grow to 150 by 2030. Also, credit card penetration, currently at about 3%, is expected to rise on the back of rising incomes, favourable demographics, digital penetration, and improving living standards.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
