Source: Capitaland. CapitaLand’s President & Group CEO, Lim Ming Yan (left) and Ascott’s CEO, Lee Chee Koon (right) try their hand at baking at Lyf’s ‘Bond’ social kitchen.

CapitaLand’s serviced residence branch, The Ascott Limited (Ascott), is launching Lyf, a new brand designed for Millennials who want to experience travel like locals.

Lyf goes beyond typical hospitality models by creating a community where guests can connect with fellow travelers and innovators to live and collaborate.

Ascott recognizes the rapid growth of the Millennial travel market, stating that individuals in their 20s and 30s will comprise over half the workforce by 2020. With Millennials spending over US$200 billion yearly on travel, Ascott, already catering to a significant number of Millennials, aims to further meet this rising demand with Lyf.

Ascott’s CEO, Lee Chee Koon, highlighted the Millennial demographic – which currently makes up a quarter of Ascott’s customer base – as a social generation that values exploration and community, rather than defining them solely by age. He believes Lyf will provide these global jetsetters and trendsetters a dynamic environment to network with like-minded individuals.

Lee emphasized Lyf’s goal to provide consistent quality and service, drawing on Ascott’s reputation for managing award-winning properties globally. He stated Ascott’s ambition to reach 10,000 units under the Lyf brand by 2020, capitalizing on the growing trend of co-living and co-working spaces. He further added that Ascott is actively seeking sites in major cities worldwide, including Australia, France, Germany, Indonesia, Japan, Malaysia, Singapore, Thailand, and the UK, and is open to both investment and management contracts to achieve this goal.

To differentiate itself, Lyf properties will be managed by “Lyf Guards” – Millennials who may also be residents, serving as community managers, city and food guides, and problem solvers. Lyf encourages interaction between guests, Lyf Guards, and partners through workshops with local artisans, hackathons with startup accelerators, and innovation talks.

Each Lyf property is designed with a unique personality, incorporating fun and quirky design elements. They will feature communal spaces called “Connect,” co-working areas adaptable for workshops or social events, a “Wash & Hang” laundromat, and a “Bond” social kitchen. Interactive digital art, ball pits, hamster wheels, and oversized Connect Four sets may also be included.

Lyf offers various apartment layouts, from “Big Bed” studios to “Two of a Kind” twin rooms with shared kitchens. “All Together” business suites cater to project groups, featuring smart displays for video conferencing and large tables serving as collaborative workspaces and dining areas.

The launch of Lyf comes after Ascott added over 10,000 units globally last year.

Interested?

Watch the video introducing Lyf

Take a virtual reality walkthrough of a potential Lyf property

Watch the #MannequinChallenge featuring Lee and staff

1 How Millennials Are Shaping The Future Of Business Travel, 24 January 2014, Forbes
2 Report: Millennial Travel Tops US$200 Billion, 15 November 2016, Hotels Mag