DreamFolks’ 90% plus business driven by lounges; sights set on service expansion in 2024, ET TravelWorld

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<p>Liberatha Kallat</p>
Liberatha Kallat

In 2023, DreamFolks achieved a milestone with over 90 per cent of its business being driven by exclusive lounge bookings, accompanied by a surge in revenues. Speaking about this, Liberatha Kallat, the Founder and Managing Director informs further about the company’s shift towards diversification in the year ahead, with an emphasis on expanding services to include enterprises.

Anticipating 2024, Kallat pointed to DreamFolks’ strategy which will aim to diversify their service portfolio beyond lounges, extending into lifestyle offerings and catering to enterprises. This also includes implementing the launch and benefits of the recent Club Card in December 2023, tailored to diverse travel and lifestyle preferences. Currently, the majority of DreamFolks’ clients are banks. Going forward, the company looks at driving 20 per cent of its revenue from non bank companies and services including beauty, grooming, healthcare and more.

“We are broadening our horizon, focusing not only on banks and network providers but also on enterprises. Our roadmap involves adding more diverse services, evolving our portfolio to meet evolving consumer needs,” she said, hinting at the launch of new services expected in 2024.

Kallat said that every enterprise is their target going forward as DreamFolks is keen on offering these benefits not just to employees but also to clients and channel partners. “We’re planning to sell these services directly to enterprises through various channels, with a current emphasis on this sector.”

“Moving ahead, we will constantly evolve, seeking to incorporate more services that cater not only to travel but also to lifestyle. The reason why we launched The Club Card; it bridges gaps, offering various services beyond lounges. It’s about creating holistic packages that encompass both travel and lifestyle, ensuring a seamless experience for travellers,” she added.

The recently launched DreamFolks Club offers various membership packages designed to cater to travel and lifestyle needs. With a one-year validity and starting price ranging between INR 8000-10000, the Club introduces four card variants. The entry-level package offers complimentary access to airport lounges within India.

Presently, DreamFolks operates as a travel services aggregator, leveraging an exclusive in-house technology platform to enable entities such as Banks, Card Networks, Airlines, OTAs, in crafting personalised offerings for their customers. DreamFolks also oversees lounge facilities and associated perks for leading Indian Banks, including HDFC, Axis, ICICI, and others.

Thomas Cook & SOTC announce exclusive charter flights to Bhutan

Responding to the travel needs of Southern India, the charter flights from Bengaluru will serve as a gateway, offering direct and exclusive access to Bhutan. With the southern region already contributing over 45 per cent to the companies’ business in Bhutan, this initiative aims to bridge the gap created by the lack of direct air connectivity.

Travel has become a priority with huge shift in lounge usage

According to Kallat, the surge in airport traffic and increased credit card penetration became key drivers for the company’s success. “With about 90 per cent of our revenue attributed to lounge services and a market share exceeding 90 per cent, the visible queues and bustling lounges validated this growth,” she stated.The shift in Indian travellers’ priorities post-pandemic also played a contributory role in this growth, added Kallat. “Travel has become a priority, with travellers wanting to spend quality time with loved ones. India’s increased travel, coupled with airport expansions and privatisation, notably by Adani in tier two and three cities, has transformed the travel experience,” she added.

Moreover, there has been a huge shift in airport lounge usage, noted Kallat, adding that the inception of the club card stemmed from this noticeable trend. She stated how families, even children, have started to view the airport lounge as a key part of the travel experience, arriving earlier to enjoy the amenities before their flights. “Leisure travellers and families now dominate the lounges, marking a shift from the business travellers predominantly using the lounges” she told ETTravelWorld.

As a prominent airport services aggregator India, DreamFolks has always been the first to introduce groundbreaking innovations, Kallat remarked, adding that technology remains the key cornerstone in their company’s growth. “Our journey, from web access to self-checking kiosks, demonstrates our commitment. The industry will witness backend innovations that end-users might not immediately notice, but we’ll continue pioneering these changes,” she added.

She further emphasised the company’s efforts in enhancing technological platforms, ensuring they remain ahead of the curve and built to last. “Over the past five years, we’ve upgraded technology to ensure long-term sustainability. Compared globally, we’re a decade ahead in building sustainable technology,” she added.

  • Published On Jan 15, 2024 at 12:01 PM IST

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