Ascott targets 150 Lyf locations by 2030

Serviced apartment group Ascott has set an ambitious goal of opening 150 properties under its Lyf “co-living” brand by 2030.

Launched in 2016the Lyf brand is pronounced ‘Life’ and stands for ‘Live Your Freedom’, targeting ‘next generation travellers’, with a community experience including managers known as ‘Lyf Guards’.

There are currently 19 Lyf properties in operation or set to open this year, in cities including Bangkok, Fukuoka, Hangzhou, Xi’an and Shanghai.

Ascott recently opened the second property under the brand in Singapore, located in the city-state’s One-North Research and Innovation Hub.

Ascott opens Lyf One-North Singapore

Upcoming destinations include Bangkok, Cebu, Kuala Lumpur, Melbourne and Xi’an this year, followed by Beijing, Danang, Ho Chi Minh City and Manila by 2025.

The group should also launch the brand in Europe next year, with the opening of Lyf Gambetta Paris.

Ascott launches the Lyf brand in Europe

Commenting on the news, Mr. Kevin Goh, CLI’s General Manager for Hosting said:

“A unique accommodation product in a class of its own, Ascott has developed Lyf as a solution that combines the best of serviced residences, hotels and co-living apartments. To date, we have opened seven Lyf locations in Singapore, China, Japan and Thailand.

“Our first Lyf property – lyf Funan Singapore achieved 80% occupancy within three months of opening in September 2019. We see the potential to expand our Lyf portfolio to 150 properties by 2030.

“In addition to growing the Lyf brand through management deals, we also see exciting opportunities for our private funds and Ascott Residence Trust to deploy more investment in this product class.”

“Lyf, as a digital cohabitation concept, continues to resonate well with our customers and partners around the world with new signings and property openings on track despite Covid-19. The pandemic has created a new way of living and working. We see more and more digital nomads and freelancers preferring to work remotely, demanding new experiences and opportunities to connect.

“The Lyf brand, with its co-living spaces and innovative in-house activities, offers a community of like-minded individuals at its doorstep and social interactions with its neighbors. From its fully furnished apartments, its welcoming environment and its authentic connection between customers, Lyf is carefully designed and organized to meet the needs of next-generation customers.

lyfbyascott.com

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