Ascott Launches New Brand - Lyf; Aims for
10,000 Units Globally by 2020
[HD video below] Ascott
has launched Lyf, a new brand which the company says is “designed for and managed by millennials who wish to
experience destinations as locals do”.
Each Lyf property will have ‘Connect’
communal spaces, co-working areas that can be transformed
into zones for workshops or social gatherings.
Residents will also be able to
hangout at the ‘Wash & Hang’ laundromat and play a round of
Foosball while waiting for their laundry to be done.
social kitchen is where guests can prepare home-cooked meals, take
cooking classes and socialise.
Lyf properties may even incorporate
interactive digital art pieces or giant ball pits, hamster wheels
and oversized Connect Four Sets.
Lyfs will offer a range of apartment layouts from ‘Big
Bed’ rooms (studios) to ‘Two of a Kind’ rooms (twin rooms) – two private rooms with a shared kitchen.
Project groups can opt for
the ‘All Together’ unit (business suites) which have smart display screens for video conferencing and discussions while a large table
doubles up as a collaborative working zone and dining area.
Instead of standard wardrobes, guests will
be able to hang their clothes on
rails that suspend from the ceiling or put up a hammock for a lazy afternoon snooze.
And, unlike conventional serviced apartments,
the properties will be managed by what Ascott calls ‘Lyf Guards’, millennials who may
be residents themselves, community managers, city and food guides,
bar keepers and problem solvers all rolled into one.
Mr Lee Chee Koon,
Ascott’s Chief Executive Officer, said, “We are on the lookout for sites in key gateway
cities for Lyf and we are open to both investment and management
contracts to meet the growing demand for such co-living spaces –
including Australia, France, Germany, Indonesia, Japan, Malaysia, Singapore, Thailand and the United Kingdom. As we scale up to
achieve our global target of 80,000 units by 2020 through Lyf and our other brands, our guests can easily take their pick from our
wide-ranging portfolio across the world. We will continue to test new concepts to seize market opportunities and raise the bar in
our customer experience to ensure that Ascott retains its leading edge in the industry.”
The size of the millennial travel market is
expanding rapidly and individuals in their 20s and 30s are
account for more than half the workforce by 2020.
“Millennials already form
a quarter of Ascott’s customers and this segment is poised to grow
exponentially. Lyf is a unique accommodation tailored for this
demographic, including technopreneurs, start-ups and individuals
from music, media and fashion. We do not define millennials by age
but instead they are a social generation who crave discoveries and
desire to be part of a community. Lyf will provide global
jetsetters and trendsetters with the opportunity to ‘Live Your
Freedom’ in a dynamic environment and network with like-minded creatives to bring more ideas to life. Most importantly, they can
be assured of a consistent quality in products and services, given Ascott’s track record in managing award-winning properties
worldwide. With the rising trend of co-living and co-working,
Ascott aims to have 10,000 units under the Lyf brand globally by
2020,” added Mr Lee.
The launch of the
new brand comes on the back of a year of remarkable growth for
Ascott, with more than 10,000 units added globally.