ASCOTT REDEFINES TRAVEL FOR MILLENNIALS
Ascott Ltd., the wholly owned serviced residence business unit of CapitaLand Ltd., has unveiled its newest brand designed for and managed by millennials who wish to experience destinations as locals do.
Lyf ( pronounced as ‘life’) goes beyond the traditional hospitality concepts, signifying a new way of living and collaborating as a community, connecting guests with fellow travelers and change-makers.
“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, startups and individuals from music, media and fashion,” said Ascott chief executive officer Lee Chee Koon.
“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 cre- atives to bring more ideas to life,” Lee added.
Lee has likewise noted that guests will be assured of a consistent quality in products and services, given Ascott’s track record in managing awardwinning properties worldwide.
With the rising trend of coliving and co-working, Ascott aims to have 10,000 units under the Lyf brand globally by 2020.
“Lyf marks another milestone in Ascott’s innovation journey to design products and experiences for the future of travel. 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,” Lee explained.
“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,” he added.