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.

The ‘Bond’ 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 expected to 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.

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