‘Lyf’ is the new brand to be added to the Ascott’s portfolio.
Lyf (pronounced life) is a brand aimed just at millennials. Ascott has identified the value in this demographic of the population that spends more than USD 200 billion annually, and has built something for them that will work. This serviced apartment maintains Ascott’s reputation in terms of quality but it comes with a twist. Lyf is, ‘Designed for and managed by millennials, to seize opportunities in rising trend of co-living and co-working’.
Expected to launch 10,000 units by 2020, Mr Lee Chee Koon, Ascott’s chief executive officer, 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. 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.”
Ascott have focused on gateway cities for this brand. Situated in Malaysia, Singapore, Thailand, Japan, Indonesia, Germany, France plus the United Kingdom will enable guests to pick from the wide range of different styles of property wherever they are in the world.
The concept is simple. Each property will be managed by a ‘Lyf Guard’, who could be a resident and most importantly fall into the millennial demographic. The ethos is to get people communicating through daily life, which the Lyf Guard has to achieve. This interaction could be in the communal areas which can be used as co-working spaces, but shifting their usage to spaces of social gatherings or workshops when needed.
