As DF is getting ~60-70% business to lounge owners thru free Credit Card access, if that stop lounge owners wont be able to even break even… so I think Pricing power is with DF than Lounge operators and this lounge access might be very small % cost for credit card companies, as I see most cards which hs lounge access are not free anymore, so if you get 4 lounge access say worth 4000 Rs you might be paying ~5000 as annual fees,I feel as they are growing they dont want to flex their muscles, but I am sure they will do in future and I see here value DF bring in to both lounge operator and Banks immense and as DF command more than 90% market share, so Only Risk I see a competition to come and disrupt DF… if they keep 90% plus mkt share they can manage the margin by passing the cost to banks in next hike…
Disc: Invested and bought more in recent correction…
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