Facing tighter lounge economics, Encalm Hospitality pivots to hotels, catering, overseas airports

According to CRISIL’s note dated December 2024, Travel Food Services (TFS) Ltd, Saptagiri Restaurant Pvt. Ltd and Encalm collectively operate 40-50 airport lounges, accounting for approximately 50% of operational airport lounges in India. Other major players include Bengaluru Airport Services Ltd, Bird Catering & Lounges Pvt. Ltd and RBA Hospitality & Hotels Pvt. Ltd.