Ascott launches Lyf brand for millennials and targets 10,000 units by 2020

George Sell By George Sell
24 November 2016 | Updated 24 November 2016

Singapore: Ascott has announced the launch of Lyf, a new apartment brand “designed for and managed by millennials".

The brand, pronounced "life", has been launched "to seize opportunities in the rising trend of co-living and co-working" and is expected to be rolled out to 10,000 units by 2020. Ascott says the brand is "designed for and managed by millennials who wish to experience destinations as locals do. Going beyond traditional hospitality concepts, Lyf signifies a new way of living and collaborating as a community, connecting guests with fellow travellers and change-makers".

Ascott CEO Lee Chee Koon said: "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. Lief will provide global jetsetters and trendsetters with the rising trend of co- living and co-working, Ascott aims to have 10,000 units under the Lyf brand globally by 2020."

Unlike conventional serviced apartments, the properties will be managed by Lyf Guards, millennials who may be residents themselves, community managers, city and food guides, bar keepers and problem solvers all rolled into one. Lyf Guards, guests and partners can conduct workshops with local craftsmen, hackathons with local start-up accelerators or innovation talks.

Designed to facilitate interaction between guests, each Lyf property has "its own unique personality with fun and quirky design elements. They will all have 'Connect' communal spaces, co-working areas that can be easily transformed into zones for workshops or social gatherings. Residents can also hang out 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 while learning more about global cuisines from other residents. Lyf properties may incorporate interactive digital art pieces or even giant ball pits, hamster wheels and oversized Connect Four sets for the kids amongst us."

The residence 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 can hang their clothes on rails that suspend from the ceiling or "put up a hammock for a lazy afternoon snooze".

Lee added: "Lyf marks another milestone in Ascott's innovation journey to design products on the lookout for sites in key gateway cities 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."

www.the-ascott.com

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